Patna, March 1: The Bihar government today approved a proposal regarding amendment in the Bihar Public Debt Recovery Act, 1914 for reducing the initial amount the banks have to deposit as court fee while lodging certificate cases against loan defaulters.
Sources said the amendment would bring relief for banks since certificate cases are disposed over a period of time during which the court fee amount of the banks get stuck.
“Earlier banks had to deposit 10 per cent of the loan amount as court fee for lodging certificate cases against defaulters but after the amendment they can file the case by depositing just one fourth of the court fee and banks would have to deposit the rest of the amount of the court fee after disposal of the case,” a highly placed state government source said.
Another major decision of today’s cabinet meet was the approval of proposal for setting up Bihar State Forest Development Agency. The agency would be a registered society, which would be headed by the chief secretary and principal secretary of the forest and environment department would be the member secretary of the society.
The society would handle all the funds received from the Centre for the forest and environment department. It would also look after the afforestation and social forestry-related works.
The cabinet also decided not to renew the lease of stone mining in Munger district. “The decision was taken on the basis of a report submitted by Munger district magistrate, which said that continuing mining was detrimental to the environment,” said the source.
The cabinet also approved a proposal related to setting up of a dedicated corporation that would undertake construction work related to human resource development department.
“As this corporation would be dedicated to construction-related work of the department one can expect quick execution of projects related to construction of buildings for schools and colleges,” said the source.
A total of 35 decisions, including the one dealing with family court were approved in today’s cabinet meet.
