The fishing community in Mumbai has something to cheer about. Now, fishermen in Maharashtra will no longer have to mortgage their homes for loans from the National Co-operative Development Corporation.
Fishermen, who have applied for loans to convert their non-mechanised fishing boats into mechanised ones, had a tough time availing loans because the conditions required them mortgaging their homes.
Fisher folks usually live in joint families. And, if one had to apply for a loan and mortgage the home in its place, it would lead to a family dispute.
This issue was brought forth by Industry Minister Narayan Rane who took it up with the Centre.
Now, instead of mortgaging his house for a loan, a fisherman can mortgage his boat against which the loan will be sanctioned.
This demand was accepted by the Corporation and it has decided that it will not insist on immovable assets.
Fishermen, who have applied for loans to convert their non-mechanised fishing boats into mechanised ones, had a tough time availing loans because the conditions required them mortgaging their homes.
Fisher folks usually live in joint families. And, if one had to apply for a loan and mortgage the home in its place, it would lead to a family dispute.
This issue was brought forth by Industry Minister Narayan Rane who took it up with the Centre.
Now, instead of mortgaging his house for a loan, a fisherman can mortgage his boat against which the loan will be sanctioned.
This demand was accepted by the Corporation and it has decided that it will not insist on immovable assets.
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