Four-month moratorium on cooperative bank loan repayments

Thiruvananthapuram: The State government Wednesday announced a four-month moratorium on repayment of loans availed from cooperative banks and institutions.

The decision in this regard was taken at a Cabinet meeting to ease difficulties being faced by people following demonetisation of Rs 1,000 and Rs 500 notes. The moratorium will continue till March 31, 2017, a government release said.

Cooperation minister Kadakampally Surendran told reporters after the meeting that no action will be taken against loan defaulters during the period.