How will the loan waived off? How will the loan be waived off? , How to apply for loan waiver scheme? , How to apply for loan waiver scheme? , Who repays the loan after the death of the loan holder? ,
today’s time, when people need money and they are not able to get it from anywhere, then the only option left for them is to think about taking a loan, although there are many types of loans. Are. But the type of loan you need depends on you. Before taking this type of loan, you must ensure that how much money and what type of loan you need.
But any person becomes very worried when he is unable to repay the loan. Then that person has to face many problems like if he has taken a loan from a private institution. So the creditors send their agents to harass the person again and again, due to which the person becomes even more worried and starts wondering how to repay the loan.
And if that person has taken a loan from any bank, then he faces the worry of legal action that if he does not repay the loan, he may go to jail.
But today in this article we will tell you about the process of loan waiver and how you can get your loan waived off. So if you want to get complete information about loan waiver kaise hoga. So read our article till the end and get the completely organized information.
How to get the loan waived off in case of not being able to repay the loan?
If you are not able to repay the loan and you are thinking that your loan will also be waived off like the loans of farmers, then let me tell you for your information that the decision to waive off the loan is only the government’s, it cannot be taken by any person. Cannot waive off. If any government wants to waive the loan under its scheme then it can do so otherwise you are living in an illusion that if you people do not deposit then after some time your loan will also be waived off.
Looking at today’s politics, governments make election promises but there is nothing certain about the fact that loans will be waived off at the behest of the government. I would like to tell you one more thing that if the government wants to waive any loan, then it will do so only. Only farmers’ loans can be waived off. If you have taken any other personal loan, gold loan, home loan etc. and you are waiting for the government to waive off your loan, then you are in a big misconception because the government is in a position to waive off any such type of loan. No provision has been made for
If you are a big farmer and you are reading this article, then those who are eligible to repay the loan must run their loan and those who are unable to repay in full can apply to avail the loan waiver scheme. This has a huge impact on the economy. The government of any of our states implements the loan waiver scheme after many meetings with the central bank of our country, the Reserve Bank of India, but even after this, farmers are not included in this loan waiver scheme. Only loans from ₹50000 to ₹200000 can be waived off.
I would like to give you an example that on March 31, 2020, the Jharkhand State Government had waived off the loan of farmers up to ₹ 50000 under the loan waiver scheme, after which a total loan of Rs 1228.85 crore was waived off under the Agricultural Loan Waiver Scheme.
What is the purpose of agricultural loan waiver scheme?
If the agricultural loan waiver scheme is being implemented by any government, then its main objective is to improve the condition of the farmers because after this the financial condition of the farmer becomes stronger to some extent and the farmer can grow his new crop without any loan. He works hard without worrying, due to which he tries to take loan in future. After any loan is waived, the loan eligibility of any farmer improves, after which it becomes easier for him to take loan in future. isl
Who can avail the benefits of loan waiver scheme?
As we have told you in the article that the benefit of loan waiver scheme is given only on farmer loan, due to which only the farmer can avail the benefit of this scheme and he should also fulfill the following eligibility:
- The farmer should be a native of the state whose government has announced the implementation of the loan waiver scheme.
- The age of the farmer should be above 18 years.
- Applicant must have Aadhar Card
- The applicant must have a standard loan account from which he has taken the loan.
- The applicant must have a Kisan Credit Card. Loans are not covered under this waiver scheme.
- The family of a boy farmer loan holder also gets the benefit of this scheme.
- Under this scheme, the money given by the farmer should be from government bank only.
- Only one crop loan holder of any family will get the benefit of such a scheme.
Who will not get the benefit of loan waiver scheme?
There are many farmers who are eligible to repay the loan taken by someone’s bank but they are still not repaying their loan under the loan waiver scheme, then the loan will not be waived off under this scheme.
- Such loan holders who work in the Central State Department and their field work.
- Loan can be availed by those who are former or present members of Rajya Sabha, Lok Sabha and Vidhan Sabha.
- Current and former ministers of the state
- Persons working under the Ministry of State Government.
- Current Chairman of the Municipal Corporation
- Current Chairman and Minister of Zilla Parishad
- All superintendents
- Employees and retired officers working in health institutions under the government.
- All persons who paid income tax in the previous year. All concerned – Doctors, Engineers, Lawyers, Chartered Accountants etc.
- Retired pensioners whose monthly pension is ₹ 10000 or more.
- Even if all these people take farmer loans, they will not get the benefit of the loan waiver scheme.
What are the documents required for loan waiver scheme?
If you also want to take advantage of the loan waiver scheme, then it is necessary for you to have the following documents, only after which you will be considered eligible for this scheme:
- State residence certificate
- passport size photo
- Applicant Aadhaar Cardl
- aadhar card link mobile number
- signature or thumb impression
- Land documents such as khasra khatuni etc. l
- Bank account passbook etc.
How to apply for loan waiver scheme? , How to apply for loan waiver scheme?
When the government of any state announces a loan waiver scheme, then you can apply under this scheme, for this you will have to follow the following steps.
- To apply under the loan waiver scheme, first of all you have to go to the bank branch where you have taken the loan.
- You will have to go to the bank branch and talk to the branch manager to get complete information regarding the loan waiver scheme.
- Now the bank manager will give you complete information related to this scheme, after which you will receive a form from the bank for the loan waiver scheme.
- Now you have to fill all the information asked in that form correctly and after that you have to get the form checked once by the bank branch head.
- Now you have to attach this form with all the relevant documents and submit it to the bank.
- Now you have successfully applied for the loan waiver scheme, after some time your application form will be scrutinized and your loan will be waived off and you will also be informed about this.
Who repays the loan after the death of the loan holder?
If any person takes a loan and under any circumstances the person taking the loan dies, then the entire money has to be repaid along with interest to the family of the loan taker.
But in this situation, if any bank officer or loan agent recovers the loan by torturing or threatening you, then you can legally take recourse to the law. In many situations, it happens that if a person has taken a farmer loan, then his The loan is waived off but if the person has taken a personal loan then the law declares it as NPA i.e. Non Performing Asset after which the family of that person is not required to repay the loan.
What should the family members of the borrower do in case of death?
If unfortunately any borrower dies then his family members should keep the following things in mind so that he can get more time to repay the loan:
- In case of death of the borrower, his family members should immediately inform the lender.
- If the loan has been taken from a government institution, the person should inform it immediately and also request for waiver or settlement of the amount.
- If the loan is in the name of the borrower then the loan institution can declare it as NPA.
- If any person’s family is able to repay the loan then he can settle the loan.
Loan waiver related questions and answers FAQs
Can Kisan Credit Card loan be waived off?
Yes, it is absolutely possible, if any government announces this, then first of all the Kisan Credit Card loan is waived off. Apart from this, the personal loan given by any person is never waived off.
Does loan taken through credit card get waived off?
If you have taken a loan from a card and you are thinking that it will be forgiven then it is your misunderstanding because these people never forgive.
When does the loan taken by the bank get waived off?
Loan taken from any bank can be waived off only on the announcement of the government, for that also the government and the bank jointly set some criteria within which your loan is waived only if you fall within it.