Punjab CM Channi Launches Loan Waiver Program For SC, Classes Back

Chief Minister Charanjit Singh Channi on Saturday launched a loan waiver program under which up to Rs 50,000 borrowed from the ab Scheduled Castes and Backward Classes Land Development Finance Corporation will be canceled.

The loan exemption certificates will be distributed statewide to all recipients during special functions by ministers and lawmakers, Channi said.

During the first stage today, loan exemption certificates of Rs 41.48 crore from planned castes and Rs 20.98 crore from backward classes are handed over, ”Channi said in his speech to a rally here.

An official statement quoting Channi said that the Punjab’s Scheduled Castes and Backward Classes Land Development Finance Corporation provides loans to needy people in order to raise their economic level.

The company provides loans at favorable interest rates to people belonging to the class of listed castes, backward classes, economically weaker sections and others for the establishment of self-employment enterprises.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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