Uttarakhand: Relief to the relatives of deceased borrowers, government will waive interest, more than 31 thousand defaulters
More than 31 thousand dues of 670 multipurpose cooperative societies under the Cooperative Department died without returning the amount. Now the state government is going to give one chance to the families of such defaulters to repay the loan without paying interest. For this, One Time Settlement Scheme (OTS) will be implemented soon. Under the Cooperative Department in the state, not only the State Cooperative Banks, District Cooperative Banks, but also the Cooperative Societies are troubled by the defaulters, but there are some of them who have left this world after taking loans. In the state, the number of deceased defaulters who have not repaid the loan taken from cooperative societies is 31 thousand 221. On whom an outstanding of Rs 123 crore 40 lakh 95 thousand is due.
The amount of interest on this money amounts to about Rs 49 crore 22 lakh 67 thousand, which the government is going to waive off by bringing the OTS scheme. Under this, the relatives of such deceased can take advantage of the scheme and repay the loan without paying interest. In this regard, Cooperative Minister Dr. Dhan Singh Rawat has instructed Additional Registrar Cooperative Societies Ira Upreti to implement the scheme. Only deceased defaulters till the year 2017 will be included in the scheme.
Cooperative bank and government will compensate for waived interest
In this regard, Additional Registrar Cooperative Societies Ira Upreti said that the department will soon conduct a survey of the families of the deceased defaulters. Those who want to take advantage of this scheme, consent form will be filled from them. Such people will have to deposit only the principal amount, rest of the interest money will be waived off. This money will be compensated by the profit of cooperative banks and on behalf of the government.
Uttarakhand Cooperative Department is going to bring OTS scheme for the first time for the relatives of the deceased defaulters. In this regard, instructions have been given to the officers to implement the scheme soon. This will make it easier for the financially weak people to repay their loans.
– Dr. Dhan Singh Rawat, Cooperative Minister