(a) whether the Government has received complaints against Public Sector Banks
for not giving the rebate of two per cent to the farmers on timely repayment of
agricultural loans during each of the last three years and the current financial
year;
(b) if so, the details thereof, State-wise and bank-wise alongwith action
taken on such complaints; and
(c) the other corrective steps taken/being taken by the Government
in this regard?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) to (c): The Interest Subvention Scheme is being implemented by the
Government of India since 2006-07 to make short-term crop loans upto Rs. 3 lakh
for a period of one year available to farmers at the interest rate of 7 percent
per annum. The Government of India has since 2009-10 been providing additional
interest subvention to prompt payees farmers, i.e., those who repay their loan
in time. The additional subvention was 1% in 2009-10 and 2% in 2010-11. This
is being increased to 3% in 2011-12. Hence the prompt payee farmers will get
the short term crop loan upto Rs.3 lakh at the rate of 4% p.a. in 2011-12.
Public Sector Banks have a grievance redressal mechanism to take necessary action
on the complaints received. Such complaints are also being redressed by the Banking
Ombudsman. The Government also receives some complaints which are forwarded to the
concerned banks, Reserve Bank of India, National Bank for Agriculture and Rural
Development (NABARD) and Banking Ombudsman for redressal. Disposal of cases at
the office of Banking Ombudsman is monitored by the Reserve Bank of India.
The data reporting system of Reserve Bank of India does not generate information
of Bank-wise and sector wise disposal of complaints.