Dependents of deceased loaner farmers, freed from loan interest under a scheme of Cop bank.

Chamoli: District Cooperative Bank Chamoli has started a one-time settlement scheme, under this, if the loaner farmers who have taken loan from the cooperative societies have died, then their dependents and grantors will have to deposit only the principal amount at zero percent.  Which will be effective till 30 September.

Gajender Singh Rawat, presidents of District Cooperative Bank, said that among the deceased farmer consumers who took loans from resource cooperative societies, there are 2507 tenant farmers in Chamoli and 1069 in Rudraprayag district respectively,  total number are 3576 lenders of both districts who have died.  A principal amount is Rs 4 crore, 53 lakh, 74 thousand while the interest is Rs 4 crore, 20 lakh 71 thousand the bank has waived off the interest on the principal amount.

The chairman Cooperative bank, said that 60 percent of the interest amount will be beared by cooperative societies and rest of 40 percent by cooperative banks.  Many farmer consumers have outstanding loans even before the formation of the state, which could not be recovered, so now this scheme is highly expected to recover the principal amount. In this context, Rawat said that it’s definitely, a golden opportunity to all those farmer consumers to paid off their loan principal amount with zero percent interest.