Awaiting EC nod for GO on gold loan waiver: Minister

Based on the announcement of Chief Minister Edappadi K Palaniswami on the floor of the Assembly on gold loan waiver, Registrar of Cooperative Societies L Subramanian wrote a letter to cooperative societies seeking information on gold loans obtained from all the cooperative banks. 

In the letter, Managing Directors of Tamil Nadu State Apex Cooperative Bank Ltd, Cooperative Agriculture and Rural Development Bank, Additional Registrar of Cooperative Societies (Chennai Zone), Managing Directors of all District Central Cooperative Banks and Joint Registrars of all the zones were asked to furnish details of jewels loans obtained by public and farmers in all the cooperative banks, till January 31. 

Though the Chief Minister, announced that gold loan obtained in cooperative banks up to six sovereigns by both farmers and public will be waived on the floor of the House, a Government Order for the same was not issued as the Election Commission announced polls for the state. 

As the model code of conduct came into force there was confusion whether the announcement will be enforced by the AIADMK government or by the next government, after the Assembly elections. 

When the question was raised by reporters with Minister Sellur Raju, he replied that permission of the EC has been sought to issue the GO and once the nod is obtained, the GO will be issued. Before the GO is issued, concerned officials are involved in the process of collecting information on gold loans obtained from cooperative banks.