According to media reports, the cooperative dept. in Uttarakhand will soon come out with ”one time settlement scheme” to waive off interest of about Rs. 80 crore of those who have taken loans from cooperative banks in the state.
The scheme will directly benefit 1.40 lakh farmers of the state. As per the scheme, interest of those not able to pay interest on loans will be completely waived off.
It is to be noted that cooperative banks of the state have to recover loans worth Rs 339 crore out of which Rs. 80 crore is interest and the rest is principal amount which is also likely to be waived off soon.
As directed by Cooperative Minister Dhan Singh Rawat, the draft of the One Time Settlement Scheme is being prepared and will soon be completed, said Registrar B.M.Mishra.
“The first part of the draft has almost been prepared. This scheme will also help cooperative banks clean up their NPA accounts”, Mishra informed.