Punjab government waives loans For 505 SC families

Under the leadership of Chief Minister Bhagwant Singh Mann, the Punjab Government continues its dedicated efforts to uplift the weaker and underprivileged sections of society. As part of this initiative, Cabinet Minister Dr. Baljit Kaur today Hands Over loan waiver certificates amounting to ₹8.72 crore to 505 families belonging to the Scheduled Caste (SC) community during a special event organized at K.G. Palace, Malout.

On this occasion, the Minister also distributed approval letters worth ₹71.40 lakh to 140 beneficiaries under the Ashirwad Scheme, with each beneficiary receiving ₹51,000.

Speaking on the occasion, Dr. Baljit Kaur reiterated the Punjab Government’s firm commitment to the welfare of the needy and marginalized sections of society. She emphasized that the State Government is ensuring maximum welfare measures for people from every section of society. She noted that, for the first time in the history of Punjab, such significant relief has been extended to the economically weaker and backward classes, made possible because the State’s budget has been prioritized for the welfare of the common people. She added that the government is judiciously utilizing every rupee from the State exchequer for public welfare.

The Minister informed that this loan waiver covers all loans distributed by the Punjab Scheduled Castes Land Development and Finance Corporation (PSCFC) up to March 31, 2020. This waiver provides much-needed financial relief to borrowers from the SC community and differently-abled categories. She added that the State Government has already issued 'No Dues' certificates to these beneficiaries, ensuring that no recovery proceedings will be initiated against them under PSCFC rules after the waiver.

She further stated that the State Government will repay the entire outstanding principal, interest, and penal interest amount to PSCFC by April 30, 2025, ensuring complete financial settlement.

Among those present on the occasion were District Welfare Officer Jagmohan Singh, Personal Assistants to the Cabinet Minister Arshdeep Singh Sidhu and Shinderpal Singh, Ramesh Singh Arniwala, Sukhpal Singh (President, Truck Union), Yadvinder Singh (Sarpanch), Nirmal Singh (Sarpanch), Kulwinder Singh Bittu, Jyoti (Sarpanch), Dr. Sadhu Singh, and a large number of beneficiaries.