Punjab cabinet okays loan waivers of up to Rs. 50,000 from SC/BC finance corps
Friday, 23/03/2018
https://dailypost.in/news/punjab/punjab-loan-waivers-50000-sc-bc/
Chandigarh – Punjab Cabinet on Thursday decided to waive off loans, up to Rs 50,000 each, taken from the Punjab Scheduled Castes Land Development and Finance Corporation (PSCLDFC) and Punjab Backward Classes Land Development and Finance Corporation (PBCLDFC).
The Cabinet on Thursday paved the way for the waiver, which will benefit 15,890 people who had taken loans up to March 31, this year, including those who had defaulted on their payments, an official spokesperson said. In the case of Punjab Scheduled Castes Land Development and Finance Corporation, there are 14,260 beneficiaries eligible for loan waiver, with a total financial liability of Rs 45.41 crore. The total number of eligible beneficiaries in the case of Punjab Backward Classes Land Development and Finance Corporation is 1,630 and the financial liability involved is Rs 6.59 crore.
Under the scheme, the beneficiaries would be issued no dues certificates only after the repay the balance amount, with interest, minus Rs 50,000 which the government has decided to waive off. The cut-off date would be March 31, this year, for calculation of interest/ penal interest. The loanees who have already filed a civil case in the court against the corporation would not be covered under this scheme, until they withdraw the cases unconditionally. If any dispute arises for waiving off loan under this scheme, the Executive Director of the Corporation would be the competent authority to take decision.
APPROVES CHANGE IN LAND POOLING POLICY-2013 TO CREATE LAND BANKS IN GMADA
Cabinet on Thursday approved a modification in the Land Pooling Policy-2013 in order to create Land Banks for the proposed Aero City Expansion Project of the Greater Mohali Area Development Authority (GMADA), with a minimum of 15 per cent compensation to be given to the land owners. The modification will help create land banks for urban estate through land pooling.
The cabinet decided that higher share of commercial area could be considered to be given to land owners if they so desired. However, in such cases, they would get lesser share of residential area to the tune of 1:3 ratio. The amendment was mooted after detailed deliberations with the farmers and other stakeholders in the vicinity of Aerocity Mohali, where 70-80 per cent of the land owners were willing to give up their land for the proposed Aero City Expansion project for land pooling.
