PSU banks get FM pat for meeting farm debt waiver

All banks have managed to put up their respective lists of beneficiaries. Though this was a tall order, within the 30-day timeframe all banks have put up their lists and this shows the strength of the human resources that are available with the PSU banks, he said at a function here.     

Banks were given 30-days till June 25 to prepare the list of beneficiaries of the scheme, whose size was enhanced to Rs 71,600 crore from Rs 60,000 crore planned earlier to include some big farmers under its ambit.     

 

Over four crore farmers would benefit from the scheme, aimed at rejuvenating the farm sector.     

Referring to the "tremendous success" of the programme, Chidambaram said the exercise has also improved the record keeping system of the banks.     

He also said that there was a distinct demand for public sector bank branches in the country.     

"The demand is to have a branch of a nationalised bank... there is brand identity of a nationalised bank... Marked preference for a public sector bank... Must satisfy this desire of the people," he said at the function to mark the inauguration of 101 branches of State Bank of India.     

He said although there would soon be 100,000 bank branches in the country, "it is not a large number" given the country's size and population.     

The Finance Minister said there was need to inculcate the habit of savings, especially among women and give special attention to small traders, who are reliable customers.