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Thiruvananthapuram , Sept. 3

THE State Government has formally notified further relaxation of the one-time settlement scheme being implemented in primary credit co-operative societies.

Announcing this here, a spokesman of the office of the Registrar, Co-operatives, Kerala, said that members have been allowed to settle, in one go, the outstanding loan arrears against their names as on March 31 latest by March 31, 2004. They would not be required to pay up any incidentals such as penal interest, compounded interest or any such on the outstanding loan amounts as on that date.

The notification also fixed at 12 per cent the rate of interest that can be charged on outstanding amounts as on March 31, 2002. Those who are not able to pay up the dues in one go have been allowed the option of paying not more than 10 per cent by March 31, 2004, and the rest in 10 equal monthly instalments thereafter. But any default after payments have been commenced as per the provisions of the relaxed scheme would automatically forfeit any benefit that may have been incidental on continued observance of the terms in their letter and spirit.

The scheme is also applicable to those cases that have reached what the notification described as "the execution" stage. It went on to add that the benefits of the scheme can be availed even by those who may already have cleared the settlement dues or those who have paid up their arrears between April 1 and July 1 this year. In case, on applying the new norms, if found that they have paid up more than what they should otherwise have, the excess amounts would be returned to the members, the notification said.

Road safety plans: The State Public Works Department (PWD) has embarked on implementing a series of elaborate road safety measures centred around arterial roads and junctions that witness heavy traffic. According to an official spokesman, the scheme has been included in the World Bank-aided Kerala State Transport Project (KSTP).

Under this, abrupt turns in congested junctions are being straightened and footpaths and bus bays are being set up at a number of places in the State. A special drive has been launched that would seek to inculcate traffic awareness and curb over-speeding along the main thoroughfares. The scheme was formally launched at a function at Kallampally in Thiruvananthapuram district, the spokesman added.

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