Concessions to benefit Tsunami affected fishermen of Puducherry

NEW DELHI - To assist the Tsunami affected fishermen of Puducherry, Union Finance Minister Pranab Mukherjee, on Monday ordered relaxation of relevant rules to ensure that they can avail enhanced benefit on their security deposits.

The relaxation will give an estimated benefit of Rs. 1.22 crore to 5,563 Tsunami affected fishermen of Puducherry.

Earlier, fishermen in Puducherry had availed loans for purchase of fishing boats and country crafts and, as per the design of this scheme, security deposit was obtained from these fishermen in the form of cash.

Part of the security deposit was invested in National Savings Certificates (NSC), Kisan Vikas Patras (KVP) and Post Office Time Deposits (POTD).

Since these fishermen were adversely affected by Tsunami, they were provided debt relief from Prime Minister’s National Relief Fund and their loans were written off.

After the write-off, their security deposits invested in form of NSC, KVP and POTD were returned to them but they received only the maturity amount on these instruments which had matured much earlier. (ANI)