Dena Bank implements loan waiver scheme

Its Chairman, P L Gairola, visited a few rural branches in north Gujarat to personally oversee implementation of the scheme, a press release issued here stated.     

Dena Bank, which is the convener of Gujarat State Level Bankers Committee, organised a meeting of commercial banks in Gujarat on June 4 for ensuring implementation of the scheme by all banks in the state within the stipulated time.     

Earlier on June 1, the bank convened an internal meeting of its senior executives to chalk out an action plan for timely implementation of the scheme.     

On June 3, the bank's Executive Director Bhaskar Sen visited rural branches in Pune district and guided them for proper implementation.     

The scheme encompasses all farmers, including the small and marginal farmers (holding agriculture land up to two hectares), will be eligible for total waiver of the overdue loan, the other farmers (holding more than two hectares) will be eligible for debt relief of 25 per cent of overdue loan, while 75 per cent of the debt will have to be paid by farmers in three instalments on or before June 2009.     

Dena Bank, as a whole, will provide relief to about 79,000 farmers under the scheme, the release said.