Cooperative jewel loans up to five sovereigns availed by genuinely poor families would be waived, Chief Minister MK Stalin announced under Rule 110 in the Assembly on Monday. The State would incur an estimated expenditure of Rs 6,000 crore to waive these loans, he added.
The loans of beneficiaries of this year’s crop loan waiver, members of the same family who had availed more than one loan above five sovereigns in same or different cooperative societies, those who availed it using fraudulently obtained family cards under Antyodya Anna Yojana scheme, and a few others would not be waived, he said.
Fifty-one details, including number of jewel loans availed by a family, Aadhaar details, loan volume and ration card were consolidated and scrutinised last month, he said, assuring action against societies that disbursed loans in anticipation of waiver after it was promised ahead of polls.
Stalin said Core Banking Solution would be introduced to streamline these banks and ensure transparency.