Farmers loan waiver: ADCC bank faces question to pay Rs 150 Cr interest

Chhatrapati Sambhajinagar: The State Government waived of Rs 65 crore, the principal amount of Ramkrishna Upsa Jalsinchan Yojana to clear up 7/12 of farmers' land.

However, the Aurangabad DistrictCentral Co-operative Bank (ADCCB) Limited has a question about how to pay the interest of Rs 150 crore on the scheme. The interest of so many years was not waived by the Government.

As per the Government orders, the DistrictCentral Co-operative Bank should pass a resolution in the general body meeting of the board of directors and submit the proposal of full loan waiver through the Commissioner for Cooperation and Registrar, Cooperative Societies, Pune, compulsorily.

The Government will distribute funds upon receiving the proposals from the bank. On receiving the fund from the Government, the amount will be transferred to financial institutes concerned through banks. The chief officer of the banks will have to clear up 7/12 of the farmers who have outstanding loan amount. The Government waived farmers outstanding loan of Rs 205.27 lakh at Kundalwadi Cooperative Bank (Nanded) in a similar way.

When contacted deputy chairman of the Bank Kiran Patil Dongaonkar said that it is good that the principal amount of the scheme was waived but, there is a question before the bank about paying Rs 150 crore interest on it.