TEAM HERALD
PANJIM: Chief Minister Manohar Parrikar Wednesday said that within the next 10 days the One Time Settlement scheme, which would provide relief to mining stakeholders who had taken loans from banks, would be finalized.
Speaking after a meeting with nationalised banks, the chief minister said that the Syndicate Bank had already sent its OTS proposal to the government. “They are waiting for a final note from their headquarters linking it with our scheme,” he said. “This will contain a 20-50% concession as well as a waiver of interest and would be done on a case-to-case basis.”
Parrikar said that all the nationalized banks are on board including the State Bank of India, Bank of India, Corporation Bank, Bank of Maharashtra and they had sent their proposals for clearance to their head offices.
“They have forwarded their proposals to their boards or the chairman – as the case may be. The proposals are likely to be cleared within the next 10 days,” the chief minister said. The application forms are available on the GEL website, he said.
On being asked about the status with regard to cooperative banks, he said that once the nationalized banks were finalized, then they would move to the cooperative banks and then to financial institutions.
Parrikar again reiterated Wednesday that the Reserve Bank of India had no role to play in the OTS. The government earlier this month had announced debt relief scheme to borrowers by which subsidy of upto 35 per cent would be provided on total settlement amount. The scheme is to be implemented once banks approve government’s OTS scheme. The scheme has a ceiling of Rs 15 lakh for truck owners, Rs 25 lakh for mining machinery owners and Rs 35 lakh for barge owners as a subsidy against the total loan settlement amount.
