Source: The Sangai Express
Imphal, November 05 2010:
The State Bank of India, Region V has notified that existing beneficiaries who are not eligible under the Agricultural Debt Waiver and Debt Relief Scheme 2008 of Government of India are required to repay the loans according to agreed terms and conditions failing which the bank will be constrained to take appropriate steps, including legal recourse to recover the bank's dues.
A press release issued by the Assistant General Manager, SBI Region V, Shillong Administrative Office, observed that many of the borrowers financed by SBI for agricultural purposes have wilfully defaulted in repaying the loan due to misinformation about the provisions of the debt waiver scheme.
All eligible loans under the said scheme have already been waived and no due certificates have also been distributed to all such borrowers besides notifying the name and amount of waiver in the bank's notice board, it added.