Punjab govt waives loans worth Rs 41.48 crore of over 10,000 SC youths

The Punjab government has waived loans worth Rs 41.48 crore of 10,151 Scheduled Caste youths after they found it difficult to repay the money due to various reasons, including circumstances arising out of the COVID-19 pandemic, state minister Sadhu Singh Dharmsot said on Sunday.

"This pro-people move by the state government has given a big relief to the SC youth," a state government statement quoted Dharmsot as saying.

The minister for social justice, empowerment and minorities said the Punjab government has decided to waive up to Rs 50,000 for all kinds of loans taken by SC youths for self-employment from the Scheduled Castes Development and Finance Corporation.

Dharmsot said these loans are given by the corporation to SCs and persons with disabilities at low interest rates.

He said the SC youths of the state were finding it difficult to repay the loans taken for self-employment "due to failure of trade, death of beneficiary, no earner at home and circumstances arising out of COVID-19".

The minister said it was decided to waive the loans of the youth to get them out of this problem.