The Reserve Bank today asked urban co-operative banks to submit their auditors' certificates related to 2008 farm loan debt waiver scheme by October 15. 

"Considering that there is a wide divergence between the percentage of errors found in the sample audit carried out by CAG and the percentage of errors found by banks while conducting their own verification exercise, the government has desired that all the banks should submit their auditors' certificates with regard to accuracy of the re-verification exercise," RBI said in a notification. 

RBI has asked the UCBs to submit these certificates on or before October 15, 2013 to apprise its position to the government. 

As per the agricultural debt waiver and relief scheme, 2008 RBI had advised the UCBs to conduct a complete verification of all the beneficiaries' list and as well drawing up a list of eligible beneficiaries who were not given benefit under the scheme. 

Last month government had said that there were irregularities to the tune of Rs 230 crore in the farm loan waiver scheme and action were being take in this regard. 

It said that 3.73 crore farmers benefited to the extent of Rs 52,259.86 crore under the Debt Waiver and Debt Relief Scheme, 2008. 

However, the auditor Comptroller and Auditor General of India (CAG) had pointed errors in implementation of the farm debt waiver scheme. 

Later, NABARD and RBI had issued directions to lending institutions to examine cases of any irregularity.  (Economic Times)