1 Year moratorium on Agriculture Loans

24 Jan 2013
Thiruvananthapuram

The State Cabinet on Wednesday decided to impose a one-year moratorium on recovery of agriculture loans and waive interest for one year as part of drought-relief measures.The Cabinet sanctioned Rs.92 crore for building check-dams and digging borewells and Rs.498 crore for replacing defunct and leaking pipes across the State.

The Chief Minister said that all revenue recovery proceedings on agriculture loans would be stopped as part of the moratorium. The banks would be told to reschedule the loans after one year.Mr. Chandy said that Rs.85 crore would be released to districts by the Revenue Department for drought relief. A Minister would be in charge of each district and would decide on use of the funds.

A sum of Rs.52 crore would be allocated to the Kerala Water Authority for repair of pipelines. The Chief Minister said the Cabinet had discussed the drought situation in each district.

Source-http://www.thehindu.com/news/states/kerala/oneyear-moratorium-on-loan-recovery/article4336763.ece

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