Punjab agricultural development bank - Latest News Update, Information, Photos & Videos on Punjab agricultural development bank at Lokmat Times

Punjab government has decided to waive penal interest to those farmers who will pay their entire defaulter amount or close their loan account in Punjab Agricultural Development Bank (PADB), by year-end.State Cooperation Minister S. Sukhjinder Singh Randhawa in a press briefing on Wednesday said that "entire outstanding penal interest will be waived in the loan accounts of those defaulters of PADBs who pay their entire defaulter amount or close their loan account by December 31, 2020."According to an official release, the Minister further said that all the 89 PADBs in Punjab have around 69,000 defaulter farmers towards whom a default amount of about Rs. 1,950 crore and penal interest of Rs. 61.49 crore is recoverable."Out of these, over 70 per cent are small and marginal farmers owning 5 acres or less than 5 acres of land. This decision will provide them much needed relief in repaying their overdue amount," added S. Randhawa."On the directions of Cooperation Minister and recommendation of the Board of Directors of the bank, the Registrar, Cooperative Societies, Punjab has given approval in this regard," the release further stated.S. Randhawa also said that the State Government led by Chief Minister Captain Amarinder Singh is fully committed to the welfare of the farming community which is evident from the fact that loan of 5.5 lakh farmers has been waived off to the tune of Rs. 4,500 crore."The State Government stands shoulder to shoulder with the farmers in this time of crisis and the new bills brought out by the Government in Vidhan Sabha yesterday to counter the black agricultural laws enacted by the Union Government, is a clear cut proof of this," the release said.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Punjab Agricultural Development BankFOLLOW

Punjab agricultural development bank, Latest News

National :Punjab Agricultural Development Bank to waive penal interest of farmers

Punjab government has decided to waive penal interest to those farmers who will pay their entire defaulter amount or close their loan account in Punjab Agricultural Development Bank (PADB), by year-end. ...