Date:23/01/2008 URL: http://www.thehindu.com/2008/01/23/stories/2008012352130300.htm

Andhra Pradesh

SC loans: State offers waiver of interest

Correspondent

VIZIANAGARAM: Minister for Social Welfare Pilli Subhas Chandra Bose said on Tuesday that the government would waive interest if the loans received under various schemes from the SC Corporation were repaid by March 31.

At a review meeting with officials here, Mr. Bose said that a sum of Rs. 362 crores was pending recovery from SC beneficiaries and added that the beneficiaries could avail fresh loans after settling the principal amount by the end of the current fiscal. On the poor response to ‘pasu kranti’ programme from beneficiaries, the Minister said as bankers were insisting on a tie-up for releasing loan, the government would issue a circular in a couple of days instructing SC Corporation to bear one third of the 50 per cent subsidy (limiting to Rs. 5,000) being given per unit on behalf of each beneficiary.