Rs 1,000 cr allocated for gold jewel loan waiver scheme in TN

CHENNAI: The Tamil Nadu government has decided to disburse Rs 1,000 crore to the cooperative societies for the gold jewel loan waiver scheme this year.

A government order from Co-operation, Food and Consumer Protection Department here said that the government has allocated a total amount of Rs 2,000 crore for the jewel loan waiver scheme.

Of the total allocation, Rs 1,000 crore was already disbursed to the cooperative societies and following request from the concerned authorities, the balance amount will be paid to the societies this year.

The order further said that the loan waiver would be applicable for the persons, who had pledged up to 40 grams of gold in the cooperative socities. Accordingly, the total claim amount has come to Rs 1,215.58 crore in 2021-2022.