Home Dehradun Interest relief for families of 31,221 deceased defaulters of cooperative societies

Interest relief for families of 31,221 deceased defaulters of cooperative societies

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By Our Staff Reporter 

Dehradun, 10 Mar: Cooperative Minister Dr Dhan Singh Rawat, today, reminded the Registrar of Cooperatives that, since the formation of Cooperative Department in undivided Uttar Pradesh, till 2017, 31,221 deceased defaulters of cooperative societies have owed Rs 123.40 crore, of which the principal amount is Rs 74.18 crore. The interest amounts to Rs 49.22 crore. The government is considering waiving the interest under an agreement.

Dr Rawat said that the department has decided that the Rs 49.22 crore lakh interest amount will be waived for the families of 31,221 deceased defaulters under a One Time Settlement Scheme. For this, the department will conduct a survey among the relatives of the deceased families and they will be asked whether they wish to part of the initiative. A consent letter will also be taken from them that they will deposit the principal amount with the committees.

Dr Rawat added that, the societies whose interest is being waived will be compensated from the profit of cooperative banks and by the government.

He said that 670 multipurpose cooperative societies should be strengthened at the Nyay Panchayat level of the state.

This is a bold decision of the Uttarakhand Cooperative Department for the first time under the OTS scheme for the relatives of the deceased defaulters.

Additional Registrar, Cooperative Societies, Uttarakhand, Ira Upreti has sent a letter to the district assistant registrars in this regard, saying that the relatives of the deceased defaulters of the societies be informed about 100% interest waiver by March 15.

The government hopes that this will make it easier for the economically weak to repay their loans.