GCCI: Restart loan settlement scheme for mining affected

rawan239

2 years ago

Goa Chamber of Commerce & (GCCI) has asked the State Government to consider extending the One Time Settlement scheme (OTS) for mining affected borrowers, which expired in March.

The GCCI, which met cooperation minister Govind Gaude on Friday said that Cooperative banks and societies should be included in the scheme.

Though the initial response was poor, the

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scheme helped 4,574 mining affected to settle their loans with Rs 98.6 crore disbursed through the Economic Development Corporation (EDC).

As per the debt relief scheme, a subsidy up to 35% on the total loan settlement amount was provided. Banks and financial institutions granted a waiver of 100% loan interest from September 2012, 40% waiver on principle loan amount for trucks owners and 30% to barge owners.