TN govt issues GO for Rs 6000 crore coop loan waiver
PTI, Nov 1, 2021, 7:37 PM IST
Chennai: The Tamil Nadu government on Monday issued an order for waiving cooperative gold loans to the tune of approximately Rs 6,000 crore, to implement an announcement made by Chief Minister M K Stalin earlier.
The chief minister had announced waiver of gold loans up to 5 sovereigns under certain conditions and had estimated the waiver value to around Rs 6,000 crore.
The GO issued by the Cooperative, Food and Consumer Protection department dated November 1, 2021 said the move will benefit 16 lakh persons who had obtained the gold loans.
It also announced a series of guidelines on the waiver and directed stringent action against any frauds committed by individuals in obtaining loans.
The loan waiver will apply to a family on the basis of its ration card and up to 5 sovereigns of gold till March 31, 2021.
The waiver amount will be provided to the cooperatives by the state government, it added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
No need to capture PoK by force; its people will themselves want to join India, Rajnath feels
Chhattisgarh: 14-yo girl kills elder brother for stopping her from using mobile phone
LS Polls 2024: BJP fielded Ujjwal Nikam who lied about Kasab being served biryani in jail, says Congress
Teen boy alleges sexually assault aboard Delhi Metro, police looking into matter
Five soldiers injured in terror attack ahead of Lok Sabha polls in J-K’s Poonch
MUST WATCH
Latest Additions
Rahul Gandhi has no fire but Congress playing with fire by attempting Hindu-Muslim divide: Rajnath
No need to capture PoK by force; its people will themselves want to join India, Rajnath feels
Shubman has lot to learn, but he’s adjusting well: Miller backs struggling GT skipper
Parashurama Theme Park: Congress demands probe; BJP urges compliance if HC order
Chhattisgarh: 14-yo girl kills elder brother for stopping her from using mobile phone