The Punjab Chief Minister Charanjit Singh Channi on Saturday started the loan waiver scheme of the Punjab Scheduled Castes and Backward Classes Land Development Finance Corporation upto Rs. 50000 and distributed certificates at his residence.In his address, the Chief Minister said that the loan waiver certificates would be distributed across the State to all the beneficiaries during the special functions by the Ministers and MLAs. "During the first stage today the certificates of Rs. 41.48 crore worth loan waiver of SCs and Rs. 20.98 crore of the Backward Classes are being handed over", said Channi.Pointing out further, Channi said that the Punjab Scheduled Castes and Backward Classes Land Development Finance Corporation provides loans to the needy persons in order to raise the economic standard of the poor people.
It is generally seen that many needy families are unable to pay back these loans which prompted the Punjab Government to take the loan waiver decision in public interest.Likewise, these corporations provide loans on easy interest rates to set up self employment ventures so that the people belonging to the SC, backward classes, divyang people, economically weaker sections besides the minorities are able to stand on their feet.Addressing on the occasion, the Chairman, Punjab Scheduled Castes and Backward Classes Land Development Finance Corporation Bhag Singh said that today 26 people from SC and 11 from Backward Classes have been given the loan waiver certificates.Among others present on the occasion included District Manager Punjab Scheduled Castes and Backward Classes Land Development Finance Corporation Avtar Singh Rai, Enforcement Officer BACKFINCO Satwinder Singh, Field Officer Anju Sharma, Assistant District Manager Budh Singh and Sukhram Singh.