Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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                            <div align="justify">-The Business Standard<br /><br /><em>Asks banks to take immediate action against officials responsible for lapses<br /></em><br />A day after a Comptroller and Auditor General of India (CAG) report pointed out irregularities in the Rs 71,680-crore agricultural debt waiver and debt relief scheme of 2008, the Reserve Bank of India today swung into action. It asked lenders to verify all the accounts granted benefits under the scheme.<br /><br />RBI said administrative and accounting lapses on the part of officials and auditors should be identified and immediately corrected and action initiated, without any exception.<br /><br />The cases where ineligible accounts were extended benefits, RBI said, should be dealt with and recoveries made on priority to ensure there was no loss to the exchequer. Recovering such amounts fully would be the personal responsibility of institutional heads, it said. This implies, chairman &amp; managing directors of public-sector banks and chief executives of private-sector banks would be held responsible for such recoveries.<br /><br />All the cases of tampering of records should be identified and stringent action, under relevant sections of the law, initiated, RBI said, adding chief vigilance officers should monitor the action regularly.<br /><br />In the cases where debt waiver certificates were not issued to eligible farmers, immediate issuance and proper record-keeping for inspection were asked for, indicating RBI planned to study those at the time of annual inspection of banks.<br /><br />The central bank also asked banks to prepare a list of all eligible farmers not given benefits under the scheme and examine why. In the cases where action appeared to be with malafide intention or carelessness, action should be initiated, it added.<br /><br />Action-taken information on all these points would have to be sent to RBI before seventh of every month.<br /><br />CAG had, in its report tabled in Parliament yesterday, criticised the Department of Financial Services and RBI over lapses in the scheme. The central bank had told CAG its role was of a mere passthrough agency, and not a monitoring authority, in the scheme. The government auditor had, however, rejected this argument, saying: &ldquo;Audit doesn&rsquo;t agree with RBI&rsquo;s response, as guidelines issued by DFS required RBI and Nabard to put in place a system for monitoring the progress and implementation of the scheme on a daily basis till July 2008 and on a weekly basis thereafter.&rdquo;</div>                                                           
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                            <div align="justify">-The Business Standard<br /><br /><em>Asks banks to take immediate action against officials responsible for lapses<br /></em><br />A day after a Comptroller and Auditor General of India (CAG) report pointed out irregularities in the Rs 71,680-crore agricultural debt waiver and debt relief scheme of 2008, the Reserve Bank of India today swung into action. It asked lenders to verify all the accounts granted benefits under the scheme.<br /><br />RBI said administrative and accounting lapses on the part of officials and auditors should be identified and immediately corrected and action initiated, without any exception.<br /><br />The cases where ineligible accounts were extended benefits, RBI said, should be dealt with and recoveries made on priority to ensure there was no loss to the exchequer. Recovering such amounts fully would be the personal responsibility of institutional heads, it said. This implies, chairman &amp; managing directors of public-sector banks and chief executives of private-sector banks would be held responsible for such recoveries.<br /><br />All the cases of tampering of records should be identified and stringent action, under relevant sections of the law, initiated, RBI said, adding chief vigilance officers should monitor the action regularly.<br /><br />In the cases where debt waiver certificates were not issued to eligible farmers, immediate issuance and proper record-keeping for inspection were asked for, indicating RBI planned to study those at the time of annual inspection of banks.<br /><br />The central bank also asked banks to prepare a list of all eligible farmers not given benefits under the scheme and examine why. In the cases where action appeared to be with malafide intention or carelessness, action should be initiated, it added.<br /><br />Action-taken information on all these points would have to be sent to RBI before seventh of every month.<br /><br />CAG had, in its report tabled in Parliament yesterday, criticised the Department of Financial Services and RBI over lapses in the scheme. The central bank had told CAG its role was of a mere passthrough agency, and not a monitoring authority, in the scheme. The government auditor had, however, rejected this argument, saying: &ldquo;Audit doesn&rsquo;t agree with RBI&rsquo;s response, as guidelines issued by DFS required RBI and Nabard to put in place a system for monitoring the progress and implementation of the scheme on a daily basis till July 2008 and on a weekly basis thereafter.&rdquo;</div>                                                           
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A day after a Comptroller and Auditor General of India (CAG) report pointed out irregularities in the Rs 71,680-crore agricultural debt waiver and debt relief scheme of 2008,..."/>
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                            <div align="justify">-The Business Standard<br /><br /><em>Asks banks to take immediate action against officials responsible for lapses<br /></em><br />A day after a Comptroller and Auditor General of India (CAG) report pointed out irregularities in the Rs 71,680-crore agricultural debt waiver and debt relief scheme of 2008, the Reserve Bank of India today swung into action. It asked lenders to verify all the accounts granted benefits under the scheme.<br /><br />RBI said administrative and accounting lapses on the part of officials and auditors should be identified and immediately corrected and action initiated, without any exception.<br /><br />The cases where ineligible accounts were extended benefits, RBI said, should be dealt with and recoveries made on priority to ensure there was no loss to the exchequer. Recovering such amounts fully would be the personal responsibility of institutional heads, it said. This implies, chairman &amp; managing directors of public-sector banks and chief executives of private-sector banks would be held responsible for such recoveries.<br /><br />All the cases of tampering of records should be identified and stringent action, under relevant sections of the law, initiated, RBI said, adding chief vigilance officers should monitor the action regularly.<br /><br />In the cases where debt waiver certificates were not issued to eligible farmers, immediate issuance and proper record-keeping for inspection were asked for, indicating RBI planned to study those at the time of annual inspection of banks.<br /><br />The central bank also asked banks to prepare a list of all eligible farmers not given benefits under the scheme and examine why. In the cases where action appeared to be with malafide intention or carelessness, action should be initiated, it added.<br /><br />Action-taken information on all these points would have to be sent to RBI before seventh of every month.<br /><br />CAG had, in its report tabled in Parliament yesterday, criticised the Department of Financial Services and RBI over lapses in the scheme. The central bank had told CAG its role was of a mere passthrough agency, and not a monitoring authority, in the scheme. The government auditor had, however, rejected this argument, saying: &ldquo;Audit doesn&rsquo;t agree with RBI&rsquo;s response, as guidelines issued by DFS required RBI and Nabard to put in place a system for monitoring the progress and implementation of the scheme on a daily basis till July 2008 and on a weekly basis thereafter.&rdquo;</div>                                                           
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    <br><a href="http://www.business-standard.com/article/finance/rbi-swings-into-action-after-cag-picks-holes-in-farm-debt-relief-scheme-113030600574_1.html" class="re" target="_blank">The Business Standard, 7 March, 2013, http://www.business-standard.com/article/finance/rbi-swings-into-action-after-cag-picks-holes-in-farm-debt-relief-scheme-113030600574_1.html</a><div class="clear"></div>
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RBI swings into action after CAG picks holes in farm debt relief scheme

Published on Mar 7, 2013   Modified on Mar 7, 2013

-The Business Standard Asks banks to take immediate action against officials responsible for lapses A day after a Comptroller and Auditor General of India (CAG) report pointed out irregularities in the Rs 71,680-crore agricultural debt waiver and debt relief scheme of 2008, the Reserve Bank of India today swung into action. It asked lenders to verify all the accounts granted benefits under the scheme. RBI said administrative and accounting lapses on the part of officials and auditors should be identified and immediately corrected and action initiated, without any exception. The cases where ineligible accounts were extended benefits, RBI said, should be dealt with and recoveries made on priority to ensure there was no loss to the exchequer. Recovering such amounts fully would be the personal responsibility of institutional heads, it said. This implies, chairman & managing directors of public-sector banks and chief executives of private-sector banks would be held responsible for such recoveries. All the cases of tampering of records should be identified and stringent action, under relevant sections of the law, initiated, RBI said, adding chief vigilance officers should monitor the action regularly. In the cases where debt waiver certificates were not issued to eligible farmers, immediate issuance and proper record-keeping for inspection were asked for, indicating RBI planned to study those at the time of annual inspection of banks. The central bank also asked banks to prepare a list of all eligible farmers not given benefits under the scheme and examine why. In the cases where action appeared to be with malafide intention or carelessness, action should be initiated, it added. Action-taken information on all these points would have to be sent to RBI before seventh of every month. CAG had, in its report tabled in Parliament yesterday, criticised the Department of Financial Services and RBI over lapses in the scheme. The central bank had told CAG its role was of a mere passthrough agency, and not a monitoring authority, in the scheme. The government auditor had, however, rejected this argument, saying: “Audit doesn’t agree with RBI’s response, as guidelines issued by DFS required RBI and Nabard to put in place a system for monitoring the progress and implementation of the scheme on a daily basis till July 2008 and on a weekly basis thereafter.”

The Business Standard, 7 March, 2013, http://www.business-standard.com/article/finance/rbi-swings-into-action-after-cag-picks-holes-in-farm-debt-relief-scheme-113030600574_1.html

Tagged with: Comptroller and Auditor-General CAG Loan Waiver Debt Relief Agriculture Farmers

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