Tamil Nadu government waives ₹6,000 crore cooperative bank gold loans

After Stalin became the Chief Minister he announced that gold loans taken from cooperative banks till 31 March, 2021, would be waived.

ByPTI

Published Jun 14, 2024 | 12:03 PM Updated Jun 14, 2024 | 12:21 PM

MK Stalin

A total of 13.12 lakh people benefitted through Tamil Nadu Chief Minister MK Stalin’s gesture of waiving ₹6,000 crore cooperative bank loans on gold up to five sovereigns or less, the government said on Thursday, 13 June.

After Stalin became the Chief Minister he announced that gold loans taken from cooperative banks till 31 March, 2021, would be waived and accordingly a government order was issued.

The move fulfilled a promise he had made in the DMK poll manifesto, the release said.

“About, ₹4,818.88 crore has been waived to benefit 13,12,717 people who had availed the jewel loans,” it said.

Loans extended to the women self-help groups through cooperative banks upto 31 March 2021, amounting to ₹2,755.99 crore was waived to benefit 1,17,617 SHGs.

About ₹35.85 lakh crore interest-free crop loans were extended through co-operative societies to 46,72,849 farmers in three years from May 2021 to December 2023.

Among the numerous achievements, the statement recalled the state government’s efforts to provide a relief of ₹6,000 per family to 23.18 lakh families affected by cyclone Michaung in Chennai and its suburbs.

A similar relief sum was given to the families affected by floods when torrential rains lashed Tirunelveli and Thoothukudi districts in the state.

“Thus, the Chief Minister’s Dravidian model of governance is ensuring the well-being of the people by implementing various schemes through the cooperative department,” the release added.

Also Read: Incidents of attacks on Muslims on rise post Lok Sabha elections, claims Owaisi

(Disclaimer: The headline, subheads, and intro of this report along with the photos may have been reworked by South First. The rest of the content is from a syndicated feed, and has been edited for style.)

(South First is now on WhatsApp  and Telegram)