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d) Deviating from the recommendation mentioned in the previous paragraph 2(i) serial no.7, Rs. 20 crores is allowed to be paid to co-operative banks as interest, which is the amount equal to 25% of the interest remaining of Rs.76.9 crores as on 31-12-09 for debts from 2001 to 2007.
iii) Debt relief is granted as follows on loans given to fishermen by Matsyafed using funds from financial institutions NBCFDC and NMDFC and by the Fishermen Development and Welfare Co-operative Societies using its own funds:
a) After the closure of the accounts of fishermen who have repaid 50% of the total loan amount including loan 2024:KER:67054 WA NO.584/2024 & Conn. Cases amount and interest in loans taken for a period up to 31 st December 1995, fishermen who have repaid 75% of the total loan amount including loan amount and interest in loans taken during the period from 1st January 1996 to 31st December 2000, and fishermen who have repaid loan amount and half of the principal amount in loans taken from January 2000 onwards, by the concerned Fishermen's Societies, to provide debt relief for outstanding debts not falling under the above category, an amount of Rs. 12.44 crores is allocated to Matsyafed and Fishermen Development and Welfare Co- operative Societies.
iv) Rs. 100 crore as the first instalment of the total amount required to provide the debt relief is allowed. The remaining amount will be paid in 3 instalments.
v) Out of the first instalment of Rs.100 crore for debt relief, Rs.50 crore will be allotted in December 2010 and Rs.50 crores in March 2011.
vi) Immediately after the payment of the first instalment the documents given as guarantee/Title deeds given by the fishermen shall be returned to the concerned persons by the Matsyafed/concerned Fishermen Welfare Societies/Co-operative Societies/Co-operative Banks within one month on Government guarantee.