Loan disbursement stopped at UCECCS

Jamshedpur 3 Comments on Loan disbursement stopped at UCECCS 232

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Jamshedpur: The UCE Cooperative Credit Society (UCECCS), Jadugoda shareholders are in a quandary as loan disbursement to UCIL employees has been stopped since February due to government apathy. The UCECCS secretary MK Swain has, in a notification stated that sanction of loans has been suspended till elections are held. The process of the Cooperative Credit Society’s election is conducted by the sub registrar of Ghatshila. The post has remained vacant since the past two years and none has been posted to fill the vacancy till date. The current managing committee of UCECCS’s tenure had expired on December 31, 2017.

Shareholders have stated that the stoppage of loan disbursement is adversely affecting their children’s education, marriages of daughters, paying bank loan installments and other immediate requirements. They have blamed the lackadaisical approach of the government to such grave issues.

UCIL workers have approached the District Cooperative Credit Society at Jamshedpur and the Registrar at Ranchi to remove the block on loan sanction so that the shareholders can continue to receive loans at low interest rates. They have also demanded of the DC to arrange for an early election or in lieu thereof arrange for sanction of loans prior to the election.

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