Home › Circulars › RBI/2008-09/407

UCBs: Agri Debt Waiver – First Instalment Deadline Extended

No longer current — withdrawn, no replacement on file yet

Source: Reserve Bank of India · RBI/2008-09/407 · issued 09 Mar 2009 · ~2 min read

Quick answerRBI extends the first instalment repayment deadline for 'other farmers' under the Debt Relief Scheme from Sep 30, 2008 to Mar 31, 2009. Second and third instalment dates remain unchanged. A one-month grace period applies only to the first two instalments, not the final one.

What changed

The Government of India extended the last date for 'other farmers' to repay the first instalment under the Debt Relief Scheme from September 30, 2008 to March 31, 2009. The second and third instalment due dates remain March 31, 2009 and June 30, 2009 respectively. The one-month grace period for maintaining standard asset classification is now available only for the first two instalments due on March 31, 2009, with no grace for the final instalment.

What it means for you

Urban co-operative banks must update their repayment schedules for eligible 'other farmers' under the Debt Relief Scheme, reflecting the extended first instalment deadline. Banks need to ensure that the one-month grace period is applied correctly only to the first two instalments, and that the final instalment is paid strictly by June 30, 2009 to preserve asset classification and farmer eligibility. This extension provides temporary relief but requires careful tracking to avoid classification slippages.

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

Update internal systems to reflect the new first instalment due date of March 31, 2009 for 'other farmers' under the Debt Relief Scheme.
Communicate the revised schedule and grace period rules to all relevant branches and loan officers handling agricultural debt waiver accounts.
Monitor repayment of the final instalment strictly by June 30, 2009, as no grace period applies, to maintain standard asset classification.
Ensure that the one-month grace period is applied only to the first two instalments due on March 31, 2009, and not to the third instalment.

Who it affects

Primary (Urban) Co-operative Banks, Farmers classified as 'other farmers' under the Debt Relief Scheme, Bank branches handling agricultural loan accounts

❓ Common questions

Regulatory timeline

Decoded by BankPulse 2026-06-19 10:48 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn 05 Aug 2026, 04:00 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What is the new deadline for the first instalment under the Debt Relief Scheme?

The last date for 'other farmers' to repay the first instalment has been extended from September 30, 2008 to March 31, 2009.

Is there a grace period for the final instalment due on June 30, 2009?

No, the one-month grace period is available only for the first two instalments due on March 31, 2009. The final instalment must be paid by June 30, 2009 without any grace to maintain standard asset classification.

Does this circular change any other terms of the earlier circulars?

No, all other terms of the earlier circulars dated July 30, 2008 and November 17, 2008 remain unchanged.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)

Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)

RBI’s words: “Official withdrawal register entry #1968: UBD.PCB.Cir.No.54/13.05.000/2008-09 — "Agricultural Debt Waiver and Debt Relief Scheme, 2008 - Prudential Norms on Income Recognition, Asset Classification, P”

📜 Read the original circular — full text as issued by RBI

Notifications - Reserve Bank of India Skip to main content Selected Selected Change Language हिंदी Search the Website Search Home About Us ▼ About Us Organisation & Functions ▶ Organisation Structure Departments Offices Training Establishment ▶ College of Agricultural Banking Reserve Bank Staff College College of Supervisors RBI's Functions and Working Governors Deputy Governors Executive Directors Communication Policy of RBI Sources of Information ▶ Annual Publications Half-yearly Publications Quarterly Publications Monthly Publications Weekly Publications Occasional Publications SDDS NSDP Data Releases Publications available on Subscription General Information RBI History Museum ▶ The RBI Museum RBI Monetary Museum Notification ▼ Notifications Master Directions Master Circulars Amendment Directions Draft Notifications/Guidelines ▶ Draft Notifications/Guidelines Draft Directions (RE-wise) Index To RBI Circulars Standalone Circulars Circulars Withdrawn Press Releases Speeches & Media Interactions ▼ Speeches Media Interactions Memorial Lectures Podcasts Publications ▼ Biennial Annual Half-Yearly Quarterly Bi-monthly Monthly Weekly Occasional Reports Working Papers Legal Framework ▼ Act Rules Regulations Schemes Research ▼ External Research Schemes RBI Occasional Papers Working Papers RBI Bulletin History DRG Studies KLEMS State Statistics and Finances Statistics ▼ Data Releases Database on Indian Economy Public Debt Statistics Regulatory Reporting ▼ List of Returns Data Definition Validation rules/ Taxonomy List of RBI Reporting Portals FAQs of RBI Reporting Portals Home Notifications Notifications ( 507 kb ) UCBs - Agricultural Debt Waiver and Debt Relief Scheme, 2008 – Last date for Repayment of First Instalment by Farmers extended RBI/2008-09/407 UBD.PCB.Cir.No. 54/13.05.000/2008-09 March 9, 2009 The Chief Executive officers of all Primary (Urban) Co-operative Banks Dear Sir/Madam, Agricultural Debt Waiver and Debt Relief Scheme, 2008 - Prudential Norms on Income Recognition, Asset Classification, Provisioning and Capital Adequacy Please refer to our circular UBD.PCB.Cir.No. 5/13.05.000/08-09 dated July 30, 2008 and UBD.PCB.Cir.No. 27/13.05.000/08-09 dated November 17, 2008 on the captioned subject. 2. In this regard, we advise that under the captioned scheme, the Government of India has since decided to extend the last date of repayment of first instalment by the “other farmers” under the Debt Relief Scheme from September 30, 2008 to March 31, 2009. The dates of payment of second and third instalments remain unchanged at March 31, 2009 and June 30, 2009. All other terms of the aforesaid circulars remain unchanged. 3. It is also clarified that the additional period of one month from the pre-specified due dates, permitted to the farmers eligible under the Debt Relief Scheme, for paying their share of the settlement, without affecting the standard asset classification status of the relevant account, shall be available only for the first two instalments viz. those due on March 31, 2009. However, no grace period is allowed for the last instalment and the entire share of the farmer is payable by June 30, 2009 itself, in order to maintain the eligibility of the ‘other farmers’ for Debt Relief Scheme and to retain the standard asset classification status. Yours faithfully, (A.K.Khound) Chief General Manager-in-charge. 2026 All Months January February March April May June July August September October November December 2025 All Months January February March April May June July August September October November December 2024 All Months January February March April May June July August September October November December 2023 All Months January February March April May June July August September October November December 2022 All Months January February March April May June July August September October November December 2021 All Months January February March April May June July August September October November December 2020 All Months January February March April May June July August September October November December 2019 All Months January February March April May June July August September October November December 2018 All Months January February March April May June July August September October November December 2017 All Months January February March April May June July August September October November December Archives 2016 All Months January February March April May June July August September October November December 2015 All Months January February March April May June July August September October November December 2014 All Months January February March April May June July August September October November December 2013 All Months January February March April May June July August September October November December 2012 All Months January February March April May June July August September October November December 2011 All Months January February March April May June July August September October November December 2010 All Months January February March April May June July August September October November December 2009 All Months January February March April May June July August September October November December 2008 All Months January February March April May June July August September October November December 2007 All Months January February March April May June July August September October November December 2006 All Months January February March April May June July August September October November December 2005 All Months January February March April May June July August September October November December 2004 All Months January February March April May June July August September October November December 2003 All Months January February March April May June July August September October November December 2002 All Months January February March April May June July August September October November December 2001 All Months January February March April May June July August September October November December 2000 All Months January February March April May June July August September October November December 1999 All Months January February March April May June July August September October November December 1998 All Months January February March April May June July August September October November December 1997 All Months January February March April May June July August September October November December 1996 All Months January February March April May June July August September October November December 1995 All Months January February March April May June July August September October November December 1994 All Months January February March April May June July August September October November December 1993 All Months January February March April May June July August September October November December 1992 All Months January February March April May June July August September October November December 1991 All Months January February March April May June July August September October November December Top Back to previous page More Links Bank Holidays Banking Glossary Citizen's Charter Complaints Contact Us COVID-19 Measures E-LMS Events FAQs Financial Education Forms IFSC/MICR Codes Important Websites Opportunities @ RBI RBI Clarifications RBI Kehta Hai RBI’s Vision and Values (1257 kb)--> Right to Information Act Tenders Follow RBI RSS Twitter YouTube Instagram Facebook LinkedIn &copy; Reserve Bank of India. 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Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-09/407 · issued 09 Mar 2009. 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=4885&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.