Up to Rs 2 lakh loans in nationalized banks to be waived off
Cabinet decision
Bengaluru, August 24: As announced in the Budget, the JDS-Congress coalition government on Friday decided to waive off the loans from nationalized banks up to Rs 2 lakh. The Cabinet also decided to waive off current loans up to Rs 2 lakh availed from the nationalized banks and this would cost Rs 32,000 crore burden on the state Exchequer.
The Cabinet meeting chaired by Chief Minister HD Kumaraswamy took the decision. Speaking to reporters after the Cabinet meeting, Kumaraswamy said that earlier, nationalized banks have agreed for the loans waiver, but later backtracked from their decisions. The loan waiver would be implemented in phased manners in the next four years. Including the previous government’s loan waiver amount, the state government has the burden of Rs 43,000 crore now, for which, two nodal officers would be appointed to process it, he added.
It was already decided to accumulate the financial resources from the state Exchequer. The government has reserved Rs 6,500 crore for loan waiver during this financial year. In 2019-20, the government would reserve Rs 8,656 crore, Rs 7,876 crore in 2020-21 and Rs 7,231 crore in 2021-22 for loan waiver purpose. The banks have charged 12 per cent interest, for which Rs 7,419 crore interest would be borne by the government, he said.
From loan waiver decision, the government has to pay Rs 32,000 crore to the banks and it was decided in the Cabinet meeting on how to repay it in four years, he said.
Runaparihara Act again
Former chief minister Devaraj Urs had brought in Runaparihara Act in 1976. The loans availed from private money lenders and hand loans up to Rs 1,25,000 would also be waived off. The government has decided implement this Act through Ordinance under which those who recover loans forcefully would get one year jail term. It was decided to recommend the President for the approval, he said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Passenger theft on Indian railways sparks outrage after viral video
New Delhi: Indian Railways, long criticized for issues like overcrowding, cleanliness, and food quality, is now facing a new challenge: allegations of passengers stealing railway property. A recent viral video has brought the issue to light, sparking widespread public debate.
The video, reportedly filmed at Prayagraj station, shows railway staff inspecting passenger luggage on the platform and recovering items such as bed sheets and towels, allegedly taken from train coaches. Shared on Reddit by user "whoismayankk," the footage has amassed over 4,200 upvotes and generated a heated discussion in the comments section.
Viewers reacted strongly, condemning the theft and demanding stricter penalties. One commenter criticized the lack of civic sense, advocating for tougher rules to address societal behavior. Others expressed disbelief at passengers stealing marked items like blankets and linens, with one remarking on the audacity of such actions despite visible IRCTC logos.
Some users linked the issue to broader societal concerns. "What is a country if not the amalgamation of its people?" wrote one, highlighting the moral decline among certain segments of the population. Another attributed the problem to passengers undermining the reputation of Indian Railways, which, despite being one of the world’s most extensive networks, struggles to maintain a world-class standard due to such incidents.
Why are people like this?
byu/whoismayankk inindianrailways
