The registrar of cooperative societies, Uttarakhand has extended the ongoing Multipurpose Primary Agriculture Credit Societies One-Time Settlement scheme (MPACS- OTS) till November 30 this year, reports The Pioneer.
The state cooperation minister Dhan Singh Rawat has ordered the extension of the scheme till 30th November. The scheme means cooperative banks exempting interest on settlement of outstanding loans on the dead loanees.
The scheme has been successful as the banks have recovered Rs 16.08 crore on 8,594 applications from the legal heirs of the persons who had taken the loans but died before paying back the loans.