On Friday, Tamil nadu chief minister Edappadi K Pazhaniswamy announced that jewellery loans up to 6 sovereigns obtained by farmers through cooperative banks will be waived off. He also added that the loans availed by SHGs through cooperative banks would be waived off.
While making the announcement, Chief minister Edappadi K Pazhaniswamy said that the decision was made considering the hardship people are going through due to the COVID 19 outbreak. “People are struggling to payback the Jewellery loans they obtained from the cooperative loans due to the COVID 19 situation.” he said during his speech.
“Though the positive cases of COVID 19 virus got decreased, People couldn’t solve their economical crisis. Farmers and Public who have obtained loan from cooperative banks through jewels, are facing difficulties to pay the loan back due to the current situation. Considering their difficulties in paying the loan back, I am happily announcing that this Respected Amma government will be waiving their loans off up to 6 sovereigns” Chief minister Edappadi K Pazhaniswamy said.
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The decision was made under rule 110 of Tamil nadu assembly rules. Chief minister Edappadi K Pazhanisamy who waived off the crop loan of Rs. 12,110 crore, also announced that the loans obtained by the woman self help groups will be waived off. He said that the COVID 19 situation has caused great stress in the livelihood of woman self help groups. “The members of women self help groups couldn’t pay back the loans obtained from the cooperative banks due to the virus spread and it will be waived off considering their difficulties” Chief minister added.