Punjab waives ₹41cr loan of 10,000 SCs

Previously too, the state government has waived such loans of Scheduled Castes and the aim was to help residents get over tough times

Chandigarh The Punjab government has waived around ₹41.5 crore loan of 10,151 persons belonging to the Scheduled Caste community. Punjab minister for social justice, empowerment and minorities Sadhu Singh Dharamsot disclosed on Sunday that the government had decided to waive ₹50,000 each, from all kinds of loans that these persons had taken for self-employment through the Scheduled Castes Development and Finance Corporation.

Over 10,000 persons from Scheduled Castes had taken these loans for self employment, Punjab minister for social justice Sadhu Singh Dharamsot has said. (HT PHOTO)

The minister added that the corporation provides these loans to SCs and Persons with Disabilities at low interest rates to fund their self-employment. The recovery rate of loans provided by the Corporation to the youth of the state at a lower interest rate is about 77%. He said that the youth was finding it difficult to repay these loans under the dire circumstances that had risen due to the outbreak of the Covid-19 pandemic.

“Previously too, the Punjab government has waived loans of 14,260 SC youth, amounting to ₹45.4 crore. Over the past four years, this government has given loan to the tune of around ₹82 crore to 8,662 persons from SCs,” he added.