Fishermen’s loans to be written off - Hindu- About: Loan Quantum
Only loans taken for purchasing work-related implements and equipment, such as boats and fishing nets, would qualify for the waiver — money borrowed from nationalised and scheduled banks as well as fishermen’s cooperative societies, Fisheries Minister S. But on a request from the Kerala government, NABARD (National Bank for Agriculture and Rural Development) had recommended to the Central authorities to consider loans from fishermen’s cooperatives too and the latter had agreed in principle to waive these too, Mr. Meetings between Fisheries Department officials and fisheries cooperatives’ functionaries would be held here in the next two days to find how best the scheme could benefit the fish workers in debt. Since administratively fisheries comes under the Union Agriculture Ministry, fish workers’ unions, mainly from Kerala, and the Kerala government urged Agriculture Minister Sharad Pawar to write off fish workers’ loans. The Central authorities agreed to this, but, when the Reserve Bank issued guidelines to the banks, fisheries got omitted. Following this, the State Cabinet sent a request to the Central authorities stressing the need to waive fish workers’ loans. Learn more
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