Corona Kaal Me Karz Nahi Lauta Rahe Log members show no interest in repayment after taking out the loan

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Jhansi. The economic situation of the cooperatives also collapsed during the Corona period. The members do not return the loans taken out by the committees. Because of this, members were charged enormous fees of around Rs 67 crore. Reminders are now sent to these debtors in order to settle the fees.
To meet their short-term needs, including fertilizers, seeds, cooperatives provide members with loans up to a maximum of Rs 3 lakh. This loan bears interest at a total of seven percent. But if it is repaid within the harvest season, four percent interest is returned. The loan has to be deposited with only 3% interest. Even so, the borrowers are reluctant to repay the committee’s loan. In the past two months, the peak of Corona has also had an impact on loan repayment. According to government figures, 14,492 members took out loans totaling 107.31 billion euros from a total of 58 cooperatives, of which 40.88 billion rupees were returned to the companies. But Rs 67 crore is still outstanding. Due to the high taxes, the committees are now crumbling. Drowned in debt, there was also an existential crisis in front of many bodies. Let us tell you that the committees distribute 65 billion credit to members during each harvest season.
Previously, during the Panchayat elections, it was said that the insolvent should not be allowed to vote in order to get them back, but after a dispute this could not be implemented. The search for these defaulters has now been resumed. According to AR Cooperative Anoop Dwivedi, those who repay the loan before June 30 only have to pay three percent interest. Thereafter, interest of 17.70 percent is payable. 10.70 percent, 2 percent panel interest and 5 percent collection fee are added to the premium. He says the list of defaulters is being prepared. A notification will now be sent to all defaulters.

Jhansi. The economic situation of the cooperatives also collapsed during the Corona period. The members do not return the loans taken out by the committees. Because of this, members were charged enormous fees of around Rs 67 crore. Reminders are now sent to these debtors in order to settle the fees.

To meet their short-term needs, including fertilizers, seeds, cooperatives provide members with loans up to a maximum of Rs 3 lakh. This loan bears interest at a total of seven percent. However, if it is repaid within the harvest season, there is an interest discount of four percent. The loan has to be deposited with only 3% interest. Even so, the borrowers are reluctant to repay the committee’s loan. In the past two months, the peak of Corona has also had an impact on loan repayment. According to government figures, 14,492 members took out loans totaling 107.31 billion euros from a total of 58 cooperatives, of which 40.88 billion rupees were returned to the companies. But Rs 67 crore is still outstanding. Due to the high taxes, the committees are now crumbling. Drowned in debt, there was also an existential crisis in front of many bodies. Let us tell you that the committees distribute 65 billion credit to members during each harvest season.

Previously, during the Panchayat elections, it was said that the insolvent should not be allowed to vote in order to get them back, but after a dispute this could not be implemented. The search for these defaulters has now been resumed. According to AR Cooperative Anoop Dwivedi, those who repay the loan before June 30 only have to pay three percent interest. Thereafter, interest of 17.70 percent is payable. 10.70 percent, 2 percent panel interest and 5 percent collection fee are added to the premium. He says the list of defaulters is being prepared. A notification will now be sent to all defaulters.

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( News Source – Amar Ujala )

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