Edappadi K Palaniswami announces schemes to help farmers

CHENNAI: Chief Minister Edappadi K Palaniswami on Sunday announced various measures to help farmers of Tamil Nadu tide through the lockdown-induced tough times, including a waiver of storage charges and low-interest loans. Farmers need not pay the 60-day rental charges for storage godowns at regulatory markets, said a press release issued on Sunday. Farmers can use the godown for 180 days.  

Farmers can also avail a loan, either for 50 per cent of the market value of their goods or Rs 3 lakh, whichever is lower, by pledging their produce. The loan duration is 180 days and interest 5 per cent. The interest-free period for the loan has been extended for the first 60 days from the existing 30 days.
Charges for the cold storage to store the vegetables and fruits will be waived until May, considering that the production of mangoes will increase over the next 15 days. Earlier the benefit was applicable only until April 30. Further, the one per cent market fees for paddy, small grains, pulses, groundnut, gingelly, coconut, cotton, chilly, tamarind, cashew and jaggery has been waived off until May end.

Low interest gold loan scheme introduced by TNSC

The Tamil Nadu State Apex Co-operative Bank has announced gold  loan schemes with low interest rates as a part of Covid-19 relief measures, said a statement issued by the bank on Saturday. The interest rate has been fixed at 6 per cent per annum. People can obtain a loan amount of Rs 25,000 to Rs 1,00,000, the statement said adding that a loan amount of Rs 3,300 can be availed for every gram, as opposed to the market rate of Rs 3,000. The loan has to be returned within a period of three months and an extension may be provided for another three months.

Waiver till May

Charges to store the vegetables and fruits will be waived until May, considering that the production of mangoes will go up over the next 15 days. Earlier the benefit was applicable only til April 30

6%

Interest rate for gold loans has been fixed at 6% per annum. People can obtain a amount of Rs 25,000 to Rs 1 lakh, and Rs 3,300 can be availed for every gram