TEAM HERALD
PANJIM: The financial institutions are yet to submit proposal for one-time settlement (OTS) and data pertaining to the mining loan borrowers to the State government. Government had directed all the institutions to submit the details on or before September 30.
It’s been over a month since Manohar Parrikar-led BJP government notified its debt relief scheme to the mining borrowers on September 3. As per the scheme, subsidy upto 35 per cent would be provided on total settlement amount to the borrowers. However, the Government is yet to receive any data on loan borrowers from the institutions, who are currently in process of compiling it.
Sources at the Secretariat level confirmed that financial institutions are yet to submit any proposal on OTS or data on mining borrowers. “The Banks have informed us that they are still compiling the information from their various branches. Banks have said that the data is huge,” sources said.
As per estimate, there are total 8,000 truck, barge and machinery loan borrowers with total loan exposure of Rs 1,000 crore.
Government has sought details of mining loan accounts sanctioned and disbursed and those who have closed or settled their loan account on or before September 30, 2012. The loan details of the borrowers pertaining to only term loan and working capital accounts are to be provided. All other types of loans need not be included.
Government had also sought registration number of barges and trucks.
As reported earlier, banks like Syndicate Bank, Corporation Bank, Bank of Maharashtra, Canara Bank and Indian Overseas Bank are ready for OTS and closure of loan subject to approval from their boards.
On the other hand, the Goa State Co-operative Bank, the apex financial institution, has refused for OTS while agreeing for 100 per cent interest wavier. The Bank has clarified that the Reserve Bank of India (RBI) guidelines does not give them power for compromise of settlement. The total loan liability of the mining dependent is around Rs 67 crore with another Rs 10.5 crore interest.
