Date:15/11/2007 URL: http://www.thehindu.com/2007/11/15/stories/2007111559120400.htm

Andhra Pradesh - Hyderabad

Rs. 445-crore interest waiver for poor

HYDERABAD: Chief Minister Y.S. Rajasekhara Reddy on Wednesday decided to waive interest totalling Rs.445 crore to benefit about 36 lakh persons, belonging to ST, SC, BC and minorities communities, on loans they took from four State finance corporations.

He took the decision after reviewing the performance of the corporations with officials. These beneficiaries could now pay only the principal amount of the loans they were given as a one-time settlement before March 31 next year. He also announced that from April 1, 2008 the BC, SC, ST and minorities finance corporations would extend loans on the lines of those given to DWAKRA women under the Indiramma Kranthi Patham (IKP).