What changed
The Ministry of Agro & Rural Industries, Government of India extended the cut-off date for lapsing of sanction and completion of disbursement for PMRY loans under the 2004-05 programme year in Manipur. The new deadline is December 31, 2005, replacing the earlier August 31, 2005 date.
What it means for you
Banks operating in Manipur get an additional four months to process and disburse PMRY loans sanctioned for the 2004-05 programme year. This extension helps avoid loan sanctions lapsing and ensures more beneficiaries can access funds before the year-end.
What you must do
- Update internal systems to reflect the new December 31, 2005 cut-off for PMRY loans in Manipur.
- Instruct regional and controlling offices in Manipur to prioritize disbursement of pending 2004-05 sanctioned cases.
- Monitor branch-level progress to ensure all eligible loans are disbursed before the extended deadline.
Who it affects
All Indian scheduled commercial banks (excluding RRBs) with branches in Manipur, PMRY loan beneficiaries in Manipur for the 2004-05 programme year, Regional and controlling offices of banks in Manipur
Why was the cut-off date extended only for Manipur?
The Ministry of Agro & Rural Industries decided to extend the date specifically for Manipur, likely due to operational challenges or delays in the state. The circular does not provide further reasons.
Does this extension apply to other states?
No, the extension is only for the state of Manipur. Other states must adhere to the original August 31, 2005 cut-off for the 2004-05 programme year.
What happens if loans are not disbursed by December 31, 2005?
Sanctions for cases not disbursed by the new cut-off will lapse, meaning beneficiaries will lose access to those loans under the 2004-05 programme year.