E-Paper
Punjab cabinet approves ₹68-cr loan waiver for Dalit families
A government spokesperson said the full amount ₹67.84 crore, comprising ₹30.02 crore in principal, ₹22.95 crore in interest, and ₹14.87 crore in penal interest, will be reimbursed to the PSCFC by the state government. The cut-off date for calculating the final interest amount will be the date on which the government issues the notification to implement the scheme
The Punjab cabinet on Tuesday gave its nod to waive loans amounting ₹67.84 crore, taken by around 4,727 Dalit families from the Punjab scheduled castes land development and finance corporation (PSCFC), chief minister Bhagwant Mann said.
A spokesperson of the chief minister’s office said the cabinet granted ex-post facto approval for the waiver of loans, disbursed up to March 31, 2020.
It will benefit all 4,727 families, including 4,685 that had defaulted on the loan. Beneficiaries who have previously availed benefits under waiver schemes are also eligible for coverage under this initiative. However, those who have filed court cases against the corporation will not be eligible unless they withdraw their cases.
No dues certificates (NDCs) will be issued by PSCFC district managers.
“The full amount ₹67.84 crore, comprising ₹30.02 crore in principal, ₹22.95 crore in interest, and ₹14.87 crore in penal interest, will be reimbursed to the PSCFC by the state government. The cut-off date for calculating the final interest amount will be the date on which the government issues the notification to implement the scheme,” said the spokesperson.
Consequently, the total waiver amount may increase, and any such increase will also be reimbursed by the government.
As per the 2011 Census, Scheduled Castes constitute 31.94% of Punjab’s population. Many members of the community have availed loans from PSCFC to establish self-employment ventures.
So far, the corporation has disbursed loans to the tune of ₹846.90 crore to over 5.41 lakh people.
