Mining loans policy by August 18, says Parrikar

PORVORIM, Aug 12, 2014: Cooperative banks and societies in Goa have agreed to waive off interest on mining loans to the tune of 40 crore but the government will announce a policy to bring relief to mining-affected loanees by September 18, chief minister Manohar Parrikar told the state legislative assembly on Monday.

The issue was raised by St Andre BJP MLA Vishnu Wagh in his starred question to cooperation minister Pandurang 'Deepak' Dhavalikar.

In his written reply, Dhavalikar said the loss suffered by banks and societies due to the closure of mining amounted to 113.12 crore. Unpaid loans by mining truck owners amounted to 77.89 crore, by earth moving machinery owners 12.36 crore, by barge owners was 98.73 crore and others 17.69 crore.

Wagh said that despite talks between the government and banks, the latter were still sending mining loanees, notices and threatening to seize their assets.

Wagh asked what steps the government would take to mitigate their sufferings.

Dhavalikar said cooperative banks and societies have already agreed to waive off the interest on the loans and they will soon get approval for this from their general bodies. The banks will also get the requisite permission from the Reserve Bank of India and later inform the government which will then chip in.

Bicholim independent MLA Naresh Sawal wanted to know whether the cooperative banks would still survive after waiving off the interest on their loans.

Parrikar intervened to say that if the loans are not settled, then the banks will sink. Otherwise, the banks would float and the government could later try to help them through the cooperation department. Parrikar also said that the government will soon announce its scheme on the issue.

Courtesy: The Times of India