Time extended for repaying coop loans

By Our Special Correspondent CHENNAI, SEPT. 29. The State Government has extended from September 30 to November 30 the time-limit for repaying cooperative loans by farmers without interest and penal interest.

According to an official release, the former Chief Minister, Ms.Jayalalithaa, announced on August 13 that farmers who had availed themselves of short-term, medium-term and short- term conversion loans in cooperative banks for agriculture and allied activities would be given waiver of interest and penal interest to the tune of Rs 310.51 crores, provided they repaid the principal before September 30.

The present move followed requests from farmers that they would be able to repay the loan only after kuruvai harvest. The earlier announcement of the concession was made in the name of the then Chief Minister. But now there was no mention of the Chief Minister's name.

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Section  : Southern States
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