Wednesday, Dec 15, 2004
Wednesday, Dec 15, 2004 |
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Rajasthan
By Our Special Correspondent
JAIPUR, DEC. 14 . Three new schemes rescheduling repayment of cooperative loans by defaulters were launched here today with the promise to disburse loans in future at a lower interest rate. The schemes will especially benefit those who could not repay the loans due to losses caused by natural calamities or practical difficulties. The Rajasthan Cooperative Minister, Madan Dilawar, launching the schemes, said the benefit would be available till June 30, 2005, and the new arrangement would enable the defaulters to get loans on easy terms in future. The schemes would benefit more than half of the 30,125 defaulters, against whom loans worth Rs. 446 crores were pending. Mr. Dilawar said the long-term loans would be repayable at the interest rate of 9 to 10 per cent, while the short-term loans would be rescheduled for repayment at the interest rate of 11.5 per cent instead of previous 18 to 20 per cent. Loans can also be repaid in a single instalment. The Minister pointed out that the State Government had disbursed cooperative crop loans worth Rs. 1,127 crores during the kharif season this year against the figure of Rs. 550 crores in the corresponding period last year. The total cooperative loans this year would amount to Rs. 1,950 crores, including crop loans of Rs. 1,640 crores and long-term loans of Rs. 250 crores. Mr. Dilawar said new cooperative rules had been framed in the State and elections to the cooperative bodies would be held "as early as possible'', with the State Cabinet likely to decide the dates shortly. Three new central cooperative banks were also being established in Dausa, Hanumangarh and Baran, he added.
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