HARYANA: The government of Haryana  has announced a one-time settlement scheme for indebted farmers or members of the District Agriculture and Land Development Bank.

The state's Cooperation Minister Banwari Lal said Banwari Lal,  on Friday that under the programme announced for the loanee members, 100% of the past-due interest will be refunded till March 31, 2022, mostly in the loan accounts of deceased borrowers.

For this, upon depositing the entire principal amount into the loan account, the heirs of dead borrowers will receive a complete waiver of past-due interest. He added that all fees, including interest and penalties, would be covered.

He said, the bank has 17,863 dead loan holders with a total balance of Rs 445.29 crore, which includes the principal amount of Rs 174.38 crore, interest of Rs 241.45 crore, and penal interest of Rs 29.46 crore.

All bank loans are under the purview of this scheme. The loan holder may benefit from this plan if, as per the plan, he was unable to make his loan payments for any reason and was listed as a defaulter by the bank up until March 31, 2022.
The cooperation minister added that because this promotion is only available for a short period of time, customers should take advantage of it as soon as possible.

He said that the government had already set uup an interest waiver programme in 2019 that had resulted in the bank recovering Rs 605.22 crore. 21,881 loanee members' interest on loans totaling Rs 181.88 crore was forgiven as part of this programme.

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