Government had directed all the institutions to submit their OTS proposals and data pertaining to the mining loan borrowers on or before September 30.
It’s been over a month since Manohar Parrikar-led government notified its debt relief scheme on September 3. As per the scheme, subsidy upto 35 per cent would be provided on total settlement amount to the borrowers.
A scrutiny committee headed by Economic Development Corporation (EDC) Chief General Manager P D Gawade consists of assistant director Mines Parag Nagarcenkar, Joint secretary (Debt Management) Meenaxi Gad and chartered accountants – Shailesh Usgaonkar and Ashish Verlenkar. The committee will scrutinize all the applications received under
the scheme for availing the benefit.
Sources at the Secretariat confirmed that financial institutions are yet to submit any proposal on OTS or data on mining loan borrowers.
“The banks have informed us that they are still compiling the information from their various branches. Banks have said that the data is large,” sources said.
