Economy | Mining
Won't force banks for OTS to mining dependents: CM
PTI, PANAJI | 29 September 2014 20:31 IST
A day after one of Goa's leading financial institutions refused one-time settlement (OTS) on loans given to mining dependents, Chief Minister Manohar Parrikar said the "state won't force any institution for OTS."
"I have not forced anyone. I will not have any problem if they refuse to give OTS. They should give me in writing (that they are not able to give OTS)," Parrikar told reporters today, after laying the foundation stone for expansion of a road connecting Panaji to Old Goa.
Goa State Cooperative Bank, which has a loan exposure of Rs 66 crore to the people dependent on mining industry, during its annual general body meeting yesterday agreed to waive off the interest, but said that OTS was not possible.
The AGM pointed out that the bank was already running into losses.
Parrikar today said he was yet to receive anything in writing from the bank in this regard.
The AGM pointed out that the bank was already running into losses.
Parrikar today said he was yet to receive anything in writing from the bank in this regard.
"This is a matter related to money. Let them give me in writing, then I will take a decision," he said.
The subsidy on OTS offered by government to the mining dependent people "is a voluntary scheme and it is not compulsory," he said.
"Government is not forcing anyone," he clarified. The Goa government has offered subsidy up to 35 per cent to the truck, barge and mining machinery owners once they work out OTS with their respective banks.
Rough estimates point out that total exposure by the banks to mining-dependent people is to the tune of Rs 900 crore.
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If Congress would have not looted Goans, today Goans would have been the richest people in India. 35 Thousand Corers is not a small amount. If distributed among all Goans, Goans will be rich. Still there is a chance. Goans should recover these 35 Thousand Corers from Congress and distribute among all Goans.