ADBN awaits circular on farm loan waiver

Mangalbare (Ilam), October 24:

The budget has announced waiver of principal sum on loans up to Rs 30,000 and interest waiver on loans up to Rs 100,000, but Agriculture Development Bank Nepal (ADBN) here is unable to get its investment back as the government has not still made the procedural details public.

Following the announcement of the waiver farmers have not paid interest, said Tek Narayan Acharya, ADB Ilam branch chief. The bank has put Rs 45,027,000 principal sum and Rs 41,753,000 interest of 2,828 farmers on the waiver list.

As perr the announcement, interest payable by 808 farmers to the tune of Rs 26,668,000 and Rs 44,783,000 principal sum would also be waived. “We cannot say how much loan will be waived until the circular is issued,” added Acharya.x