By Our Staff Reporter
Dehradun, 26 Apr: Cooperative Minister Dr Dhan Singh Rawat has announced an increase in the limit of cash credit loan scheme for government employees from Rs 25 lakhs to Rs 35 lakhs. Under the amended scheme, benefit has been extended to all officers and employees of government/semi-government institutions, corporations and cooperative societies of the central and state government. Till now this scheme was only for regular employees/officers of District Cooperative/State Cooperative Bank and PACS Cadre Secretaries (Regular). The minister also announced increase in the CC limit under the scheme from Rs 25 lakhs to Rs 35 laksh. A formal order in this regard has been issued by Registrar Cooperative Alok Kumar Pandey.
Pandey stated that this loan scheme will be applicable and available to such employees/officers whose salary is being deposited in the bank branch. However, under the scheme, only those regular officers/employees will be eligible, who have completed minimum two years of satisfactory service and their total deductions (including income tax) do not exceed 60 percent of the gross salary. Under the scheme, the maximum loan limit of 35 times the salary (basic salary + dearness allowance) of the employees/officers or a maximum of Rs 35 lakh, whichever is less, will be approved. The CC facility will only be made available to those employees who have at least two years of service left before retirement.
It may be recalled that last year, also, on the instructions of Cooperative Minister Dr Dhan Singh Rawat, Registrar, Cooperatives, Alok Kumar Pandey had set the limit of giving loan CC limit to Rs 25 lakh, which yielded very good results. Under this, scheme, over 5,000 employees availed the CC facility with the total loan amount sanctioned being Rs 160 crores. This scheme also resulted in profits for the cooperative banks in the state.
Pandey claimed that the increase in the CC limit also indicated that the cooperative banks were gaining financial viability and strength in the state. In Uttarakhand, loans are being given to the employees by the District Cooperative Banks at the lowest interest rate of 9.75 percent. Lakhs of employees will be able to avail CC limit up to Rs.35 lakh at this rate of interest.
