Uttar Pradesh One Time Samadhan Scheme 2023: Registration and Benefits -

Farmers often struggle to repay loans, especially when faced with natural disasters or unforeseen challenges. To assist farmers in Uttar Pradesh, Chief Minister Shri Yogi Adityanath has initiated the UP EK Must Samadhan Yojana 2023. Under this scheme, farmers can receive an interest rate rebate ranging from 35% to 100% if they make a lump sum repayment of their loans. Over 2.63 lakh farmers stand to benefit from this program, which is divided into three categories.

To take advantage of the Uttar Pradesh Lump Sum Solution Scheme, you can apply online via the official website. This online process saves time, money, and ensures transparency. Alternatively, you can apply offline. It’s important to note that the scheme’s benefits are available only until March 31, 2021. If you repay your loan after this date, you won’t be eligible for the scheme’s benefits.

UP Electricity Bill Relief Scheme 2023: Discount for Consumers

The Uttar Pradesh government, led by Chief Minister Yogi Adityanath, is launching the Uttar Pradesh One Time Settlement Scheme (OTS) to ease the burden on electricity bill defaulters and consumers. The scheme will be in effect from November 8 to December 31, 2023, offering electricity consumers discounts ranging from 50% to 100%. This initiative particularly benefits those involved in electricity theft cases, allowing them to settle their fines through lump-sum payments or installments.

Three-Phase Implementation for Convenience

The one-time settlement scheme unfolds in three phases over a total of 54 days. The first phase spans from November 8 to November 30, the second from December 1 to December 15, and the third from December 16 to December 31. Consumers are presented with two options to facilitate the payment of their outstanding installments.

Exemption on Surcharge for Tube Well Consumers

Private tube well consumers will enjoy surcharge exemptions until March 31, while all other eligible consumers are exempted until October 31, 2023. Payments can be made directly via UPI, Jan Seva Kendra, Vidyut Sakhi, meter readers, department cash counters, ration shops, or online payment on the website. Consumers can also access information about their payable amounts after the rebate through the corporation’s website.

Operated by Uttar Pradesh Cooperative Village Development Bank

This scheme is administered through the Uttar Pradesh Cooperative Village Development Bank, established to provide financial support to farmers by offering low-interest loans. It has 323 branches across the state, aiming to empower farmers and free them from moneylenders.

Key Highlights of UP One Time Settlement Scheme 2023

Scheme Name: Uttar Pradesh Lump Sum Solution Scheme
Launched by: Government of Uttar Pradesh
Beneficiaries: Citizens of Uttar Pradesh
Objective: Encouraging farmers to repay loans and reducing the NPA rate of banks
Official Website: https://upsgvb.in/index.php
Year: 2023
Application Type: Online/Offline
Interest Rates on Loans:
Minor Irrigation, SRTO, Agricultural Mechanization and Moun Rearing Scheme: 11%
Dairy, Dunlopkart, Animal Husbandry, Horticulture, Rural Housing, Poultry Scheme, Fisheries, Non-Agricultural Sector Schemes, and others: 11.50%
Note: Beneficiaries paying installments on time are subject to the interest rates mentioned above. Late payments may incur an additional 1% interest.

Three Categories of One Time Settlement Scheme 2023

First Category: Farmers with outstanding loans predating March 31, 1997, who are unable to repay the loan, fall into this category. The entire interest on these loans is waived.

Second Category: Farmers who took loans from April 1, 1997, to March 31, 2007, are included in this category. They receive interest rebates, and for cases where interest exceeds the loan amount disbursed, the remaining principal amount is recovered. In cases where interest is less than the loan amount disbursed, the interest and remaining principal are adjusted accordingly.

Third Category: Farmers who borrowed between April 1, 2007, and March 31, 2012, can benefit from this category. They have the option of 100% recovery of the entire principal, a 50% interest rebate if they close the account between the scheme’s launch and July 31, 2018, a 40% interest rebate if the account is closed between August 1, 2018, and October 31, 2018, and a 35% interest rebate for accounts closed between November 1, 2019, and January 31, 2020.

Objective of EK Must Samadhan Yojana

The primary objective of this scheme is to encourage farmers to repay their loans and reduce the NPA rate of banks. The Uttar Pradesh Lump Sum Settlement Scheme benefits farmers by providing interest rebates of 35% to 100% when they repay their loans, making repayment more affordable and improving their financial conditions.

Benefits and Features of UP Lump Sum Settlement Scheme

Initiated by Chief Minister Shri Yogi Adityanath.
Offers interest rate rebates ranging from 35% to 100% for farmers making lump sum loan payments.
More than 2.63 lakh farmers stand to benefit.
Available through online and offline application methods.
Divided into three categories.
Scheme benefits can be availed only until March 31, 2021.
Improves farmers’ economic conditions and fosters self-reliance.
Reduces the NPA rate of banks.

Eligibility and Required Documents

To be eligible for the scheme, the applicant must be a permanent resident and a farmer in Uttar Pradesh. Required documents include Aadhar card, identity card, address proof, land documents, bank account passbook, mobile number, and passport-sized photographs.

Video Credit : Chauhan Sir Official

Application Process

Online:

Visit the official website.
Click on the “Uttar Pradesh Lump Sum Solution Scheme” option.
Fill in the required information and attach necessary documents.
Click the submit button.

Offline:

Get the application form from the nearest Uttar Pradesh Cooperative Gram Vikas Bank branch after paying a fee.
Fill in the form, attach essential documents, and obtain required signatures.
Submit the application form to the bank branch.