One time settlement scheme was introduced for the arrears of Kheti Bank

- Antenna: Vivek Mehta

After paying 3% of the settlement amount in advance, the remaining amount is allowed to be paid in six-month installments: Bank's NPA Rs. Estimated to be more than Rs 300 crore: Rs. 150 crore relief is expected

The Gujarat State Cooperative Agriculture and Rural Development Bank has approved a one time settlement scheme for approximately 20,000 debtors of Kheti Bank to repay their arrears without huge burden of interest and penalty. By announcing this scheme, Kheti Bank has given Rs. It plans to recover the maximum amount from the outstanding amount of over Rs 200 crore. Due to the one time settlement scheme, farmers have to pay around Rs. 150 crore relief is estimated. The implementation of One Time Settlement Scheme has been started from February 2, 207. The last date for applying for refunds under this scheme is March 31, 203. Since the co-operation department was handed over to Amit Shah at the Center, an exercise has been carried out to increase the number of BJP supporters by taking special care of farmers. This exercise is also a part of it.

This one time settlement scheme has been announced for the account holders of defaulters accounts as on 30th June 2018. It has been decided to give the benefit of this scheme till 31st March 203. Rs. Debtors up to Rs 5 lakh will have to deposit 3% of the outstanding amount at the time of settlement. The savings will then have to be repaid in two installments of six months each. Debtors of more than Rs 5 lakh and less than Rs 10 lakh will also have to deposit 3% of the settlement amount first. The remaining amount has to be deposited in four installments of six months. Similarly, those who are in arrears of more than Rs 10 lakh will have to pay 3% of the agreed amount before the settlement. The remaining amount will have to be paid in six installments of six months i.e. in 6 months. It is unknown at this time what he will do after leaving the post. However, the BJP government has given one more opportunity to the farmers who are labeled as arrears to get rid of the black tile stuck on their heads and pave the way for them to get credit in the co-operative sector.

In the past, loans were given at 12 to 15 per cent interest in agriculture banks. Interest rates remained high during this period. So the burden of paying with interest was also great. If the crop failed, it would be difficult to repay the loan for the equipment. Thus the farmers could not repay the loan due to natural calamity or other reasons. It has been decided to give relief to them in arrears of interest and penal interest. In other words, it has been decided to allow this money to be paid with simple interest. The new scheme has been implemented since February 2, 2013. Applications can be submitted till March 31, 207 for availing the benefits of this scheme.

The plan is designed to alleviate the plight of about 50,000 farmers in the state as part of the BJP government's efforts to double farmers' incomes. The BJP government had announced to double the income of farmers by 202. Farmers' income has increased. However, efforts have been made for the last three years to get the scheme approved. It has been approved on the second of February. Kheti Bank's new chairman Dollar Kotecha met Sahakar cell chief Bipin Patel and Gujarat BJP president C.R. With the help of Patil, the one-time settlement scheme was successfully approved.