Kerala Cabinet approves new debt relief scheme

Kerala has approved a new debt relief scheme for low income and poor people who face the threat of revenue recovery proceedings after they fail to repay loans taken from various financial institutions under the government. The scheme, expected to cause an additional burden of Rs 40 crore to the exchequer, would benefit more than 10,000 persons.

State government is prepared a comprehensive one-time debt relief scheme in the wake of several memoranda received from persons who face revenue recovery proceedings. The relief is for those who had taken loans from the State Housing Board, Scheduled Caste and Scheduled Tribe Backward Welfare Corporation, State Women’s Development Corporation, The Kerala State Handicapped Persons Welfare Corporation and Revenue Departments. The principle amount, interest and penal interest on loans up to Rs 5 lakh would be waived.

So let’s do:
1. Name the state, which has announced approved a new debt relief scheme for low income and poor people who face the threat of revenue recovery proceedings?

Source – The Hindu





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