Interest dues on housing society loans waived

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V. Vaithilingam
V. Vaithilingam

Staff Reporter

Members will get waiver with the limit of Rs. 1 lakh

PUDUCHERRY: Members of cooperative housing societies will be granted a waiver of interest and penal interest dues, with the limit of Rs. 1 lakh.

Chief Minister V. Vaithilingam made the announcement while talking to reporters here on Wednesday.

Unpaid interest and penal interest due from low-income members of cooperative housing societies as on March 31, 2008, has been completely waived by the government.

An 80 per cent waiver would be granted to middle and high income members on unpaid interest and penal interest due, as of March 31, 2008.

Those reaping the benefit of the waiver must pay the principal amount and arrears due as on March 31, 2008, and the principal amount, interest and penal interest for the period between April 1, 2008 and September 30, 2009, by March 31, 2010.

Around 1,888 housing cooperative society members would benefit from this scheme, and the government, in turn, would incur a cost of Rs. 479.23 lakh.

The payment for milk boilers, involved in implementation of Shri Rajiv Gandhi Breakfast Scheme and Evening Milk Scheme has now been increased to Rs. 3,000 a month.

The payment to milk boilers has been increased steadily over the years, starting at Rs. 25 a day initially to Rs. 100 a day last year.

But, this payment was given only on school working days, that is, for about 20-21 days a month on an average.

“From December 2009, we have increased their pay to Rs. 3,000 a month, without taking into account the number of school working days, so that a steady income is ensured,” Mr. Vaithilingam said.



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