Goemkarponn Desk
PANAJI: The State government has extended the benefit under the debt relief scheme for financial institution borrowers harmed by mining until March 31, 2025, in what may be the final adjustment to the plan.
Nevertheless, the extension is only available for proposals that are still pending with the banks or that the banks have rejected due to technical issues.
According to the Directorate of Mines and Geology (DMG), as this would be the final adjustment to the plan, the Chief Minister would have the final say over whether to completely or, in extraordinary circumstances, ex-gratia issue benefits in a single or series of cases.
The financial benefits under the initiative have been extended more than ten times since its debut in 2012.
The program provides a subsidy of up to 35% of the total loan settlement amount. For truck owners, banks and other financial institutions are waiving 100% of the loan interest, 40% of the principal amount, and 30% for barge owners.
