Conditional waiver of jewel loans
The Hindu
State exchequer will likely incur an expenditure of about ₹6,000 crore
The DMK government, which had earlier put on hold the implementation of the jewel loan scheme announced by the AIADMK regime, citing various irregularities, on Monday announced the waiving of loans for under five sovereigns of mortgaged gold, subject to certain criteria. Preliminary estimates suggest that the State exchequer will incur an expenditure of about ₹6,000 crore towards waiving of the loans. “The government feels that only the eligible poor and downtrodden should benefit from the waiving of jewel loans. So in a few cases, among those who have obtained jewel loans for below five sovereigns of gold, it is felt that there is no need to waive them,” Chief Minister M.K. Stalin said in a suo motu statement in the Assembly. Detailed operational guidelines in this regard will be issued by the Cooperation Department in a day or two. For instance, in case of those who have benefitted from the waiving of farm loans in 2021, if members of the same family have obtained jewel loans, either from one or more cooperative units in a district or from such units in multiple districts; and for those who have obtained multiple jewel loans for gold above five sovereigns or those who have misused the Antyodaya Anna Yojana cards or those who used it to obtain loans, “it will not be possible to waive such loans,” he said.
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