The Hindu reports Tamil Nadu’s Virudhunagar District Consumer Disputes Redressal Forum has asked the Manager of a Primary Agricultural Cooperative Bank (PACB) and Virudhunagar District Central Cooperative (VDCC) Bank to pay a compensation of Rs 50,000 to a farmer for trying to collect excess interest on agricultural jewel loan (AJL).
The forum in its order also found the victim was not given the benefit of the jewel loan waiver scheme announced by the State Government.
The farmer had got the AJL of Rs 1.26 lakh in November 2018. She had approached the society manager for retrieving the jewel by repaying the loan with 7% interest before the deadline of January 2019.
The forum directed the entire loan amount of Rs 1.26 lakh along with interest to be waived off within 6 weeks.
