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SBI announces loan waiver, 25 lakh farmers to benefit
Published on Mon, Jun 30, 2008 at 22:01 in 
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FARM LOAN: In the OBC category the bank has waived loans to 1,21,721 farmers.
New Delhi: The countries biggest bank State Bank of India announced loan waivers amounting to Rs 7000 crore on Monday.
As the deadline for implementing the governments Rs 71,000 crore farm loan waiver scheme expires on Monday, the SBI says that its waiver will benefit 25 lakh farmers.
The bank has completely waived off Rs 6000 crore for 19 lakh farmers and partially waived Rs 1000 crore for 6 lakh farmers.
In the OBC category the bank has waived loans to 1,21,721 farmers amounting to Rs 496.37 crore.
The State-run, Union Bank of India also on Monday said it has completed the implementation of farm loan debt waiver and relief scheme announced in the Union budget across its 1,600 branches.
The bank waived off Rs 713 crore worth loans from around 2,68,000 accounts under the debt-waiver scheme and another Rs 248 crore for 84,000 farmers under the debt-relief programme, UBI said in a press release issued here.
The Government had asked the banks to complete the process by June 30.
UBI will start the process of financing eligible farmers from the first week of next month, the bank said.
Finance minister, P Chidambaram had announced the Rs 60,000 crore farm loan waiver scheme in the Union budget with a view to assist the debt-ridden farmers.
Later, the size of the package was increased to nearly Rs 71,000 crore.
With PTI inputs
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