The OBC community which constitutes 52 per cent of the State’s population is languishing as the Odisha Backward Classes Finance and Development Cooperative Corporation (OBCFDCC) has been unable to pay off the loan of the National Backward Classes Finance Development Corporation (NBCFDC).
It is pertinent to mention here that the NBCFDC had sanctioned `11.71 crore for providing loan to the OBC community for their economic amelioration. Accordingly, after proper scrutiny and verification of records and necessary investigation, the OBC officials extended the loan facilities to the tune of `10.38 crore to deserving unemployed youths of the community for various purposes. The unutilised amount of `1.33 crore was refunded consequently to the funding agency.
But by just sanctioning the loans, the authorities sat idle and did not provide the much-needed technical and financial support. Consequently, many OBC budding entrepreneurs who had got loans could not repay the same.
The efforts of the OBC officials yielded no result as the youths closed down their sick units. In the emerging scenario, the OBCFDCC limited tried its level best for paying off the loan and in the process it was finally able to pay off `5.90 crore to the NBCFDC which was adjusted as `1.61 crore as principal, `4.16 crore as interest and `0.11 crore as penal interest.
However, at this point of time the Government of India waived agricultural loans routed through the cooperative credit institutions. A glaring difference in the recovery situation automatically cropped up during 2008-09. While a young entrepreneur availing a power tiller from the cooperative institutions availed full waiver, the other young entrepreneur who was forced to close down his unit for lack of consequent support had to pay back his loan. This led to large scale resentments among those who did not get any relief.
Meanwhile, the NBCFDC is insisting on loan recovery while the State Finance Department is sticking to the point of final waiver of the total interest and penal interest.
OBCFDCC Chairman Narayan Biswal expected generosity from the NBCFDC and easing of the burden on the OBCFDCC. He said that this is necessary for giving further fillip to the pro-OBC activities.
Meanwhile, the State OBC Forum has threatened to resort to a stir if the OBCs continue to be ignored.
A Finance Department official told, “If the State Government clears `8 crore, then it will pave way for sanction of further grants to the OBCFDCC.”