Chennai, Former Chief Minister of Tamil Nadu, O. Panneerselvam (OPS) has requested the state government to provide funds as interest outstanding on waived jewel loans belonging to primary agriculture cooperative societies.

The AIADMK leader said the Tamil Nadu government had in an order in November 2021 said that it would bear the interest on waived loans of primary cooperative societies.

He said that the government had in the order stated that it would bear the interest for the period from April to November. Immediately after the government had announced the waiver of interest for jewel loans, associations representing the employees of the primary agriculture cooperative societies had demanded that the government pay the amount waived in advance to the societies.

The former CM said that after the government announced the waiver for jewel loans, people stopped paying the interest. He said that the primary agriculture cooperative societies are functioning on the basis of the interest received and hence most of the societies are on the verge of shutting down.

He called upon Chief Minister M.K. Stalin to immediately intervene in the matter and to have an order issued providing funds for the interest on the waived loans.