Home › Circulars › RBI/2009-10/326

CAG Audit of Agricultural Debt Waiver Scheme 2008

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2009-10/326 · issued 24 Feb 2010 · ~2 min read
Quick answerRBI directs urban co-operative banks to facilitate a CAG performance audit of the Agricultural Debt Waiver and Debt Relief Scheme, 2008, ensuring eligible beneficiaries received due waivers as intended by the government.

What changed

RBI has informed urban co-operative banks that the Comptroller and Auditor General of India (CAG) has selected the Agricultural Debt Waiver and Debt Relief Scheme, 2008 for a comprehensive performance audit. Banks must now facilitate scrutiny of records related to the scheme.

What it means for you

Urban co-operative banks must cooperate with CAG auditors, providing access to records and information on the scheme's implementation. This audit aims to verify that debt waivers and relief were correctly granted to eligible beneficiaries, ensuring compliance with government and parliamentary intent.

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

Who it affects

All Primary (Urban) Co-operative Banks, Chief Executive Officers of these banks, Staff handling agricultural loan accounts and scheme implementation

❓ Common questions

Regulatory timeline

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

What is the purpose of the CAG audit for this scheme?

The CAG is conducting a performance audit to examine the efficiency of the scheme's implementation and to ensure that eligible beneficiaries actually received the debt waiver and relief as intended by the government and Parliament.

Which banks are required to comply with this circular?

All Primary (Urban) Co-operative Banks, as addressed to their Chief Executive Officers, must facilitate the audit.

What records might the CAG need to scrutinize?

The CAG may require records and information related to the Agricultural Debt Waiver and Debt Relief Scheme, 2008, including loan accounts, waiver approvals, and beneficiary details.

📜 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 #1746: UBD.BPD.PCB.Cir.No.46/13.05.006/2009-10 — "Union Budget - 2008-09 - Agricultural Debt Waiver and Debt Relief Scheme, 2008" dated February 24, 2010”
📜 Read the original circular — full text as issued by RBI
RBI/2009-10/326 UBD.BPD.PCB.Cir.No. 46/13.05.006/2009-10 February 24, 2010 The Chief Executive Officer, All Primary (Urban) Co-operative Banks Dear Sir, Union Budget – 2008-09 – Agricultural Debt Waiver and Debt Relief Scheme, 2008 Please refer to paragraph 5 of our circular UBD.PCB.Cir.No.50/13.05.000/2007-08 dated June 2, 2008 on the captioned subject. 2. In this connection, we advise having been informed that the Comptroller and Auditor General of India (CAG) has selected the Agricultural Debt Waiver and Debt Relief Scheme, 2008 for conducting a comprehensive performance audit to examine the efficiency of its implementation and to provide an assurance  that the eligible beneficiaries have actually been granted the debt waiver and debt relief due under the Scheme by the implementing lending institutions as intended by the Government and the Parliament. This may involve scrutiny of records/information related to the captioned Scheme. You are, therefore, requested to take necessary action in this regard and facilitate the audit of the Agricultural Debt Waiver and Debt Relief Scheme 2008 by the Office of the Comptroller and Auditor General of India. Yours faithfully, (S. S. Barik) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-10/326 · issued 24 Feb 2010. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 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=5512&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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