KERALA

Loan arrears clearance drive

Staff Reporter

Kochi: A loan arrears clearance fair would be organised by the Kerala State Development Corporation for Scheduled Castes and Scheduled Tribes in the district on April 12.

Addressing a press conference, V.R. Sivarajan, chairman of the corporation, said Minister for Fisheries S. Sarma would inaugurate the fair at the Ernakulam District Panchayat Hall. He said that the corporation, which started functioning in 1972, had to get loan arrears to the tune of Rs.35.26 crores. The corporation proposed to hold a meeting of those who had defaulted in repaying the loans in two or three centres and allow them more instalments. Besides, the corporation was also planning to formulate new loan schemes.

He said that many of the persons who failed to repay the loans were facing recovery proceedings. In fact, many borrowers had taken advantage of the Government programme for one-time settlement of loan arrears.