Punjab Debt Waiver Scheme for OBC / SC / ST to waive off Loans upto Rs. 50,000

Dated: April 12, 2018 | Updated On: April 12, 2018 | By: Karan Chhabra | |
Punjab Debt Waiver Scheme OBC SC

Punjab Govt. is going to launch a debt waiver scheme for economically weaker and underprivileged borrowers of OBC / SC / ST category. Accordingly, the state govt. will waive off the loans upto Rs. 50,000 taken from the Punjab Scheduled Castes Land Development and Finance Corporation (PSCLDFC) and Punjab Backward Classes Land Development and Finance Corporation (PBCLDFC). This loan waiver scheme will commence from 14 April (birth anniversary of Dr. B.R. Ambedkar).

At the official launch event at DAVIET, CM would hand over the cheques to the eligible beneficiaries. DC and Police Commissioner have already issued instructions to ensure that mega event is organized successfully.

Govt. will calculate the interest on the loans which are taken on or before 31 March 2017.

Punjab Debt Waiver Scheme for OBC / SC / ST

The important features and highlights of Punjab loan waiver scheme for poor people are as follows:-

  • PSCLDFC is the nodal agency to provide loans at minimal interest rate to the poor people belonging to SC Category. Similarly, PBCLDFC is the agency to give loans at nominal interest to the backward people.
  • All the poor people who have taken loans from these 2 agencies / corporations can now avail the benefits of Debt Waiver Scheme. This debt waiver scheme will waive of loans upto Rs. 50,000 taken from these 2 corporations.
  • Punjab govt. will issue no dues certificates to the borrowers after they repay their balance amount with interest minus Rs. 50,000 which the state govt. is going to waive off. Punjab CM will hand over the cheques to the eligible beneficiaries.
  • The cut-off date to calculate interest or penal interest on loans taken is 31 March 2017.

Officials will make every possible effort to ensure that people participate in huge numbers at this event to make it a complete success. All the beneficiaries of Doaba region are also going to take part in the launch event of Punjab Debt Waiver Scheme. This event will held at DAVIET on the birth anniversary of Bharat Ratna Dr. B.R. Ambedkar.

Related Content