CM Unveils One-time Settlement Scheme for Non-farm Loans

Published: 28th July 2015 04:03 AM  |   Last Updated: 28th July 2015 04:03 AM   |  A+A-


CHENNAI:  Chief Minister J Jayalalithaa on Monday launched a one-time settlement scheme for non-farm loans amounting to Rs 299.80 crore availed by 5,741 beneficiaries through the 180 primary agricultural cooperative banks and Rural Development Banks.  They had not repaid their loans on time. To mark the launch of the scheme, two loanees received the certificates for settling their dues from the Chief Minister in person at the Secretariat.

Under the scheme, the compound interest, penal interest on the principal amount of loan and other expenses relating to the collection of these arrears to the tune of Rs 166.92 crore as on March 31, 2014 would be waived if they pay the principal amount and the interest fully. To utilise the scheme, the loanees should pay 25 per cent of the principal amount and the interest within three months and enter into an agreement with the bank concerned. The rest of the loan and interest should be paid within six months. 

Meanwhile, the Chief Minister also launched the extension of the comprehensive medical insurance scheme being implemented for the employees of the State government to the employees of the cooperative societies.

Three employees received the health insurance cards from the Chief Minister at the Secretariat.

As many as 1,56,047 people, including 6,245 workers - among them salesmen in ration shops - besides 41,061 employees of cooperative societies and their family members numbering 1,14,986 would be benefitted by this extension. The yearly premium of Rs 2,120 per year per person would be borne by the cooperative society in which they are employed and the workers in 50:50 ratio.

Minister for Cooperation K Raju, Chief Secretary K Gnanadesikan, Advisor to State government Sheela Balakrishnan and senior officials were present on the occasion.

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