STOCK MARKET BSE NSE

Kerala govt denies waiving debts of cooperatives

 The state government clarified that it has not “written off” the debts of three cooperative institutions which had availed huge loans from the state and district cooperative banks.

Published: 18th August 2019 05:40 AM  |   Last Updated: 18th August 2019 05:40 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: The state government clarified that it has not “written off” the debts of three cooperative institutions which had availed huge loans from the state and district cooperative banks. Cooperation minister Kadakampally Surendran told reporters that Rubco, Marketfed and Rubber Mark had only been given loans by the government to tide over their losses.

The Minister said the governments’ settlement plan had no connection with the Chief Minister’s Distress Relief Fund as is being reported by a section of the media. Instead of paying back their dues to the cooperative bank,the institutions will have to pay it to the state government. The cooperative institutions have been asked to come up with their revival plan so their debts can be repaid in a timely manner.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp