read file content

Shell Programming and Scripting
1

i have one file

abhi.txt

its contents are

home8/mc09ats/UnixCw/backup/file1
home8/mc09ats/file2

i want to read this content of file using while loop..

in this i want to seperate the content as follows

path=home8/mc09ats/UnixCw/backup
file=file1
echo path
echo file

can you please help me out..

2 
while read var1;
 do
 path=${var1%/*}; 
 file=${var1##*/}; 
echo "path is $path";
 echo "file is $file";
 done < abc.txt

HTH,
PL