Panaji: Granting major relief to the mining affected loan borrowers, State Cabinet has granted further six months extension to its ambitious ‘Debt Relief- One Time Settlement’ (OTS) scheme till September 30.
The move is basically aimed at providing some immediate relief to the mining dependents, whose livelihood is affected with closer of mining industry.
The dependents have been demanding that government should take over their loan liability or freeze it till the mining activities resumes.
The State cabinet through circulation granted its approval for extension to OTS scheme, which will be limited to only those proposals that are pending with the banks or those which were rejected earlier.
As per the Debt Relief scheme, which was introduced in August 2014, a subsidy upto 35 percent on the total loan settlement amount is provided. The banks and financial institutions are granting waiver of 100 percent loan interest from September 2012 and 40 percent waiver on principle loan amount for trucks owners while 30 percent to barge owners.
