Sir,
This has a reference of Govt. of India instructions regarding Waiver Scheme of interest component sanctioned / availed upto 31-3-2009 and outstanding as on 31-12-2013 in a budget speech of Finance Minister, 2014-15 to the stake holders who fall under the ambit of this scheme, and this shall be adopted by all the scheduled banks / RRBs. This scheme is for technical/professional streams from recognized institutions in India for economically weaker sections. The government of India will take all the liability for outstanding interest component upto 31-12-2013.
The disbursement of relief component on interest claims shall be on one time basis for all the above outstanding as mentioned and the entire exercise has to be completed by 30-6-2014. This scheme is for those economic weaker sections whose annual family income is upto Rs. 4,50,000/- and is filled in the application at the time of sanction of loan. It is also envisaged that no separate income certificate is required from the competent authority. These amendments remained to be shared with the beneficiaries.
However, it has been observed that the ibid interest component exemption has not been publicized adequately by the concerned institutions for the benefit of the public. The banks / RRBs have knowingly/unknowingly kept such vital relief component information under the carpet resulting in depriving the general public of their basic rights, ‘right to know’. But to say, even this relief information has not been shared by zonal offices of the banks and branches, to the loanees and rather misguided started exerting pressure on the stakeholders for immediate recoveries.
Needless to say that gullible public also in the state of J&K has been deliberately deprived them of entire/part reliefcomponent as desired by the Government of India. The big Banks / RRBs also joined the race to fool the public and to entice them to make the undue payments thus fleecing them of their benefits. What is least expected is, that institutions should evolve a mechanism where certificate copy of the correct figures duly signed should be dispatched/handed over to the beneficiaries.
It is as such requested that this reliefcomponent information be made public through the columns of this paper so that public/stakeholders can not be fleeced further.
Yours etc……
K.S. Gupta
Col. Iqbal Singh
on e-mail
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