Punjab Farm Karz Mafi Scheme for Small & Marginal Farmers UP to Rs. 2 lakh

January 7, 2018 | Last Modified: January 12, 2018 at 11:21 pm | Category: Govt. Application Forms, Punjab

The state government of Punjab government has launched its much-awaited “Farm Debt Waiver Scheme” (Farm Karz Mafi Yojana) from Mansa district. The CM of Punjab has distributed debt relief certificates to eligible beneficiaries in Mansa in the first phase of the scheme.

In the first phase of Karz Mafi Scheme, around 47,000 lakh eligible small and marginal farmers will get the benefit of the scheme. The beneficiary farmers who took loans from cooperative banks will get a debt relief certificates under the Farm Loan Waiver Scheme. The state government will provide Rs. 167.39 crore to effectively implement the scheme.

At the initial stage, this Waive Off Loan scheme will cover farmers who took loans from 701 Primary Agriculture Cooperative Societies of the five districts Mansa, Bathinda, Faridkot, Muktsar, and Moga. According to the source, the authority has already identified 5.63 lakh farmers, who took the loan of nearly Rs. 2,700 crore from all the cooperative institutions as on 31 March 2017,

Punjab Farm Loan Waiver Scheme 2018

The state government has informed that the verification process of 3.20 lakh farmers had been completed. In addition, as many as 1.60 lakh cases of the farmer who have taken loans with a total worth Rs. 748 crore has been approved by the state government. Accordingly, this loan waiver scheme will complete the entire process will in four phases.

However, the state government has identified over 10 lakh farmers in which comes both of the marginal and small farmers. Under Loan Waiver Scheme of Punjab, marginal farmers having land holdings of less than 2.5 acres and small farmers having to land less than 5 acres, who have taken the loan up to Rs 2 lakh will get the benefit of the scheme.

If in the case, the eligible farmers who do not have Aadhaar cards or mismatch of Aadhaar card with the bank account or revenue records, their inclusion in the scheme will be done through manual verification in the second phase. Moreover, if in the case any marginal and small farmer is left out of debt relief scheme, then he can submit his application or representation to the Assistant Registrar of Cooperative Societies or Sub Divisional Magistrate of the concerned district.

However, the list of beneficiaries will soon out by the state government. whenever the list will out we will update it here. The candidate can download the complete details of loan waiver scheme can download this PDF clicking on below link.

Punjab Loan Waiver Scheme

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