With subsidy up to 35 percent on the total loan settlement amount, the government has so far dispersed Rs 9.87 crore.
The Debt Relief Scheme for mining affected borrowers, launched in September 2014, offers a ceiling of Rs 15 lakh for truck owners, Rs 25 lakh for mining machinery owners and Rs 35 lakh for barge owners, as subsidy against the total loan settlement amount, provided the loan was taken before September 30, 2012.
As per information, nearly 1000 applications were received from truck, barge and machinery owners, by the five-member scrutiny committee headed by Economic Development Corporation (EDC) Chief General Manager P D Gawade, of which loan liabilities of 635 borrowers have been settled and their bank accounts closed down.
The majority of the bank accounts were with Corporation Bank, followed by State Bank of India (SBI).
Both the banks had proposed waiver of 100 percent loan interest from September 2012, and 40 percent waiver on principal loan amount for truck owners while 30 percent waiver to barge owners.
