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Farm loan waiver: banks told to prepare list of beneficiaries

PUDUCHERRY: Chairman and Managing Director of Indian Bank M.S. Sundara Rajan on Tuesday told all the banks to prepare the list of beneficiaries for the Agricultural Debt Waiver and Debt Relief Scheme 2008 launched by the Central government.

At the State-level Bankers’ Committee Meeting for the Union Territory, convened by the Indian Bank, he said the banks might be directed to display the list anytime. He requested all the member banks to achieve their targets in time, a release said.

Mr. Sundara Rajan said the members should provide special attention to lending under the Differential Rate of Interest scheme and to the weaker sections and minority community.

The performance of banks in various key areas was discussed. The total deposits touched Rs. 4,855.34 crore as against the target of Rs. 4,082.95 crore in March 2007. The advances stood at Rs. 2,816.86 crore as against the target of Rs. 2,290.88 crore. The priority sector advances were 57 per cent to total advances, while the agricultural advances were 16 per cent to total advances, the release said.

The total disbursement of credit by the banks during 2007-2008 was Rs. 529.91 crore against the target of Rs. 401.19 crore, reaching an achievement of 132 per cent.

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