Punjab CM starts loan waiver scheme for SC, backward classes

Punjab CM Channi on Saturday started a loan waiver scheme under which an amount up to Rs 50,000 borrowed from the ab Scheduled Castes and Backward Classes Land Development Finance Corporation will be waived.

Punjab Chief Minister Charanjit Singh Channi on Saturday started a loan waiver scheme under which an amount up to Rs 50,000 borrowed from the ab Scheduled Castes and Backward Classes Land Development Finance Corporation will be waived. The loan waiver certificates will be distributed across the state to all the beneficiaries during the special functions by the ministers and MLAs, Channi said.

During the first stage today, the loan waiver certificates of Rs 41.48 crore of the scheduled castes and Rs 20.98 crore of the Backward Classes are being handed over”, Channi said in his address to a gathering here. An official release quoting Channi said the Punjab Scheduled Castes and Backward Classes Land Development Finance Corporation provides loans to the needy persons in order to raise their economic standard.

The corporation provides loans at easy interest rates to the people belonging to the Scheduled Castes category, backward classes, economically weaker sections and others for setting up self-employment ventures.