Punjab's Farm Loan Waiver: Commercial Banks Also Included In the Scheme (Read Complete Notification)
Chandigarh, October 20, 2017: The notification issued by the Punjab government for crop loan waiver scheme, popularly called Debt Waiver, has made it clear that this short term loan availed by small and marginal farmers from scheduled commercial banks is also covered under this scheme.
As per the notification issued by the Agriculture Department of Punjab, the scheme will be implemented from the date it is notified in the official Gazette.
Under the scheme, the exemption for the targeted farmers will cover principal amount and interest payable on it as on March 31, 2017 in addition to the outstanding interest on crop loan from April 1, 2017 till the date of this notification comes into force.
An 11-member Monitoring committee, under the chairmanship of Chief Secretary, will be set up to monitor the implementation and clarifications as well.
Here’s the copy of the notification containing details of the scope of this scheme, its implementation and monitoring aspects: