According to G Narayanan, executive director, IOB, the debt waiver scheme will benefit 465,000 farmers in the country, of which 12,246 are in
Karnataka. The average amount of waiver per small and marginal farmer works out to Rs 24,000. All these farmers will be eligible to avail fresh loans depending on their individual requirements with immediate effect, he said.
He told reporters here today that the bank has prepared the list of eligible farmers across 1,852 branches in the country and hopes to complete the process by June 30. In Karnataka, Narayanan is kickstarting the debt waiver scheme in the districts of Mandya, Mysore and Chamarajanagar on June 12. The bank has 84 branches in the state.
Narayanan said Tamil Nadu accounts for nearly 60 per cent of the Rs 1,053 crore debt being waived off by IOB.
