UCBs: Additional Instructions for Agri Debt Waiver Scheme 2008
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2007-08/370 · issued 17 Jun 2008 · ~2 min read
Quick answerRBI issued standardized formats for undertakings and certificates under the Agricultural Debt Waiver and Debt Relief Scheme, 2008, for Urban Co-operative Banks. These ensure uniform documentation for OTS relief and debt waiver certificates.
What changed
RBI provided two new standardized formats: one for the undertaking by 'other farmers' opting for One-Time Settlement (OTS) relief, and another for certificates of debt waiver (for small/marginal farmers) and debt relief (for other farmers). The undertaking format specifies payment of the farmer's share in up to three installments with last dates of September 30, 2008, March 31, 2009, and June 30, 2009. The certificate formats require banks to mention eligible amounts, amounts paid, and relief granted, with an acknowledgement from the farmer.
What it means for you
Urban Co-operative Banks now have clear, uniform documentation to process the Agricultural Debt Waiver and Debt Relief Scheme, reducing ambiguity in OTS and waiver claims. This helps banks comply with scheme requirements and avoid disputes with farmers or auditors. Banks must ensure these formats are used for all eligible accounts to maintain consistency and audit readiness.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Adopt the prescribed undertaking format (ANNEX I) for 'other farmers' opting for OTS relief, ensuring installment payment deadlines are communicated.
Issue debt waiver certificates (ANNEX II) to small/marginal farmers and debt relief certificates (ANNEX III) to other farmers upon settlement.
Obtain an acknowledgement from the farmer when issuing the certificate, as required by the scheme.
Acknowledge receipt of this circular to your respective Regional Office.
Who it affects
All Primary (Urban) Co-operative Banks, Farmers eligible under the Agricultural Debt Waiver and Debt Relief Scheme, 2008
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 13:44 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn05 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
What are the key deadlines for 'other farmers' under the OTS installment plan?
For three installments, the last payment dates are September 30, 2008, March 31, 2009, and June 30, 2009. The first two installments must each be at least one-third of the farmer's share.
What must be included in the certificate for small and marginal farmers?
The certificate must state that the loan has been waived and specifically mention the eligible amount that was waived. The farmer must provide an acknowledgement upon receipt.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
📜 Read the original circular — full text as issued by RBI
RBI/2007-08/370
UBD.PCB.Cir.No. 55/13.05.000/2007-08
June 17, 2008
To
The Chief Executive Officer,
All Primary (Urban) Co-operative Banks
Dear Sir/Madam,
Union Budget – 2008-09 – Agricultural Debt Waiver and
Debt Relief Scheme, 2008- UCBs
Please refer to our circular UBD.PCB.Cir.No.43/13.05.000/07-08 dated May 23, 2008 and the Agricultural Debt Waiver and Debt Relief Scheme, 2008, forwarded therewith.
2. In this connection, we forward certain additional instructions for smooth implementation of the Scheme.
A. Format for undertaking to be given by ‘other farmers’ for OTS:
As per item no. 7 of the Scheme, a farmer classified as ‘other farmer’ eligible for OTS relief shall give an undertaking agreeing to pay his share (that is eligible amount minus the amount of OTS relief) in not more than three installments and the first two installments shall be for an amount not less than one-third of his share. The last dates of payment in the case of three installments will be September 30, 2008; March 31, 2009 and June 30, 2009. The format for such an undertaking is given in ANNEX – I .
B. Format for the certificate of Debt Waiver and Debt Relief:
As per item no. 9 of the captioned Scheme, in the case of small and marginal farmers, upon waiver of the eligible amount, the lending institution shall issue a certificate to the effect that the loan has been waived and specifically mention the eligible amount that has been waived.
In the case of ‘other farmers’, upon granting OTS relief, the lending institution shall issue a certificate to the effect that the loan account has been settled to the satisfaction of the lending institution and specifically mention the eligible amount, the amount paid by the farmer as his share and the amount of OTS relief. Upon issuing the certificate the lending institution shall take an acknowledgement from the farmer.
The formats for such Certificates are given in ANNEX – II and ANNEX III respectively.
3. Please acknowledge receipt to the Regional Office concerned.
Yours faithfully,
(A.K Khound)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2007-08/370 · issued 17 Jun 2008. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=4245&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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