One Time Debt Resolution Scheme | 14 Jul 2022

Why in News?

• On July 13, 2022 Rajasthan Minorities Finance and Development Co-operative Corporation Limited, Jaipur has implemented one-time loan resolution scheme-2022-23 for the borrowers.

Key Points

• The benefit of this scheme will be availed by the borrowers of Jaipur district, under which the beneficiaries of professional and education loans disbursed up to March 31, 2022 will be eligible for waiver of penal interest.
• District Minority Welfare Officer Shakeel Ahmad said the scheme will be effective till March 31, 2023.
• Under the scheme, 100% rebate of penal interest will be given to eligible borrowers on depositing the surplus amount (principal and interest) in lump sum.