Punjab CM to launch debt waiver for economically weaker borrowers

JALANDHAR: Punjab chief minister Captain Amarinder Singh will launch a debt waiver scheme for economically weaker borrowers in the Scheduled Caste and Backward Classes categories during a state-level function to mark the birth anniversary of Dr BR Ambedkar on April 14.
Divulging the details, deputy commissioner Varinder Kumar Sharma said that during the function, the chief minister would launch the scheme to waive off loans up to Rs 50000 taken from the Punjab Scheduled Castes Land Development and Finance Corporation (PSCLDFC) and Punjab Backward Classes Land Development and Finance Corporation (PBCLDFC).

Sharma said that beneficiaries from entire Doaba region would take part in the function.

The DC said that under the scheme, the beneficiaries would be issued no dues certificates after paying 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, 2017 for calculation of interest/penal interest.