Free Press Journal reports Punjab Chief Minister Capt. Amrinder singh said his govt. would disburse loans of Rs 590 crore to 2,85,325 members of PACS thereby giving a relief of Rs. 20,000 per member.
The cheques would be issued in August, officials are quoted saying.
The Punjab Government initiated a Debt Relief Scheme for Farm Labourers and Landless Farming Members of PACS-2019, which will cover only Consumption Loans to the members of PACS advanced by District Central Cooperative Banks of Punjab through PACS.
Finance Minister Manpreet Singh Badal, Cooperation Minister Sukhjinder Singh Randhawa and cooperative officials attended the meeting.