TN govt flags Rs 516 crore scam in crop loan waiver

Days after the DMK government said it was putting on hold the cooperative banks farm loan waiver scheme announced by the erstwhile AIADMK government, cooperative minister I Periyasamy on Wednesday told the Tamil Nadu assembly that there were irregularities in disbursement of loans to the tune of Rs 516 crore, including Rs 503 crore worth of loans given to beneficiaries in Salem and Namakkal districts. The government has found that loans were extended to beneficiaries disproportionate to their land holdings and in violation of the norms fixed by a state-level technical committee for disbursing loans.

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