Tamil Nadu government ordered to recover unpaid Gold loan with interest rate. TN government found many customers got gold loans from different cooperative banks. But they do not repay the loan amount with interest rate.
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Earlier Chief Minister M K Stalin announced for waived off the gold loan. Some family takes this advantage and taking a gold loan from different cooperative banks which is illegal.
TN government will take the necessary steps for taking illegal loans.
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M K Stalin said an estimated cost of Rs 6,000 crore will be provided for people who got gold loans from cooperative banks in a declaration made under Rule 110 of the Assembly.