Stalin announces waiver of jewel loans

Chennai: Chief Minister M K Stalin today announced waiver of cooperative jewel loans up to five sovereigns per family.

Making a statement under rule 110 of the Assembly, he said an estimated cost of Rs 6,000 crore will be allocated for those who obtained gold loans in cooperative banks.

‘Economically backward loan takers and eligible beneficiaries would be provided a jewel loan waiver for up to five sovereigns in the state at an estimated cost of Rs 6,000 crore’, Stalin announced in the Assembly.

Apart from the gold loan waiver, the Chief Minister made several other important announcements including the release 700 convicts serving life term on Anna birthday anniversary which falls on 15 September.

While Avadi and Tambaram will be upgraded as police Commissionerate, the Chief Minister also proposed for set up police commission to reform the police force.