Source: The Sangai Express
Imphal, November 13 2010:
Cautioning all loan defaulters, who had availed financial assistance from the State Bank of India for agricultural purposes, the Chief Manager of SBI, Paona bazar branch today said that many have wilfully defaulted in repayment and if the loans are not cleared according to the agreed terms and conditions then the bank will be constrained to take up necessary steps including legal means to recover the loan.
The Chief Manager said that due to misinformation about the provisions of Agricultural Debt Waiver and Debt Relief Scheme 2008 of Government of India, many loanees have defaulted in repaying their loans.
Explaining, the Chief Manager said that all eligible loans under the said scheme have already been waived and 'No Dues Certificates' have been distributed to all such borrowers besides notifying the name and amount of waiver in the notice board.
Beneficiaries not eligible under the said schemes are required to repay the loans taken, added the statement.