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UP: No auction of agri land for loan recovery

Last Updated: Tuesday, April 24, 2012 - 14:10

Lucknow: The Uttar Pradesh government has directed banks in the state that land of farmers should not be auctioned for realisation of agricultural loans.

The directive was issued during a review meeting held by Special Secretary and Director (institutional finance) Shiv Singh Yadav with the officials of commercial and regional rural banks on Monday.

During the meeting, Yadav said that farmers have taken agricultural loans from various banks and their land should not be auctioned for recovery.

He directed that recovery certificates should not be issued till further order.
Commercial banks should achieve 60 per cent credit- deposit ratio (CDR) fixed by the Reserve Bank in 75 districts of the state.
He pointed out that CDR was less than 40 per cent in 28 districts.

PTI



First Published: Tuesday, April 24, 2012 - 14:10

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