Thiruvananthapuram: a one-time settlement scheme, announced to complete an extraordinary loan because at a cooperative bank, it has been extended a month.
This scheme is set for a hose on Thursday.
The decision to expand a one-time settlement scheme was announced by VN Vasavan’s cooperation minister at a press conference on Wednesday.
“The benefit of a one-time completion scheme will be available for customers until October 31.
This scheme was introduced to facilitate the opportunity to customers to resolve their loan arrears by utilizing concessions in interest and investment from the default number,” he said.
Loans that fall into the ‘default’ category, completely or partially, on March 31, 2021 qualified for the relaxants offered through a one-time completion scheme.
Loans who are seriously ill and their families will get priority in this scheme.
Relaxation will also apply to the legal heirs of the people who died as loan trimming, said Vasavan.
“The condition for one-time completion will remain the same.
Announced in September,” he added.
The one-time completion scheme applies to all cooperative banks except the state cooperative bank, Bank Cooperative Bank Malappuram, community cooperative housing, cooperative rural development bank.
However, these banks are free to implement a one-time settlement scheme with cooperative registrar permission, Vasavan said.
Meanwhile, Kerala Bank aims to capture the decline in the price of agricultural products through the ‘PACS scheme as a multi-service service center’ that will make procurement, processing, marketing, and values of agri possibilities.
Projects that meet the specified conditions will be given a loan until Rs 2 Crore with a 4% interest through PACS.
Those who make fast payments will get interest subsidies up to 3%.
Thus, those who pay can immediately get a loan until Rs 2 Crore is 1% below this scheme, the Minister said.
Extended one-time settlement scheme
