EPS asks the DMK government to pay the loan exemption amount to cooperative banks


In a statement, the deputy coordinator of AIADMK alleged that the current government, which came to power, issued a loan waiver order only for 13.37 lakh people, who had pawned their jewelry in various cooperative banks, against its earlier announcement of a total of 35.38 lakh beneficiaries.

“As a result, the state government should have paid the amount to the banks, which waived the jewel loan to the beneficiaries,” he said. “Instead of doing this, the government asked to spend the expenses through its down payment amount,” he added.

The AIADMK leader claimed that due to non-payment, cooperative banks could not provide loans to cooperative societies for the purchase of fertilizers and seeds for farmers. “Besides, the banks also could not pay the amount of fixed deposit that came due to their customers and other routine work due to insufficient funds,” he said, adding that due to the lack of of funds, employees of cooperative banks were arguing with customers, leading to unnecessary confusion between the two parties.

Palaniswami also claimed that despite several requests from the co-operative society office, the state government has yet to pay the jewelry waiver amount to the co-operative banks.

“Therefore, the government should pay the amount to about 4,450 cooperative banks, which waived the jewel loan and fulfilled the companies’ request,” he added.

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