Sunday, August 1, 2010

Rs.115.03-crore loan of fishermen waived

THIRUVANANTHAPURAM: The State government has waived arrears in loan amounting to Rs.115.03 crore taken from cooperative societies by 48,355 fishermen in the State, Kerala State Cooperative Federation for Fisheries Development (Matsyafed) said in a press release on Sunday.

Of this, a sum of Rs.60.37 crore constitutes the interest and penal interest on the loans taken by fishermen to purchase fishing equipment. A sum of Rs.41.51 crore had been converted into shares of Matsyafed for the societies and the remaining Rs.13.15 crore would be returned to the societies.

The distribution of the shares being allotted to the societies would begin this week.

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