Mumbai: National Bank for Agriculture and Rural Development (Nabard) has appointed its excecutive director, S K Mitra, as the nodal officer for the Rs71,000 crore farm-loan waiver scheme that was announced in the Union Budget 2008.
According to an official statement released by Nabard, a control room has been set up at its headquarters to oversee the implementation of the waiver programme. This will oversee the implementation of the scheme on a day-to-day basis and will provide feedback to the Government.
Nabard will also act as the nodal agency for cooperative banks and Regional Rural Banks to oversee the implementation of the scheme, it said.
The Government had recently hiked the farm-loan waiver programme to around Rs71,000 crore from the earlier announced Rs60,000 crore.
The scheme is expected to benefit around 4.3 crore farmers across the country.