Punjab Government Waives Off ₹68 Crore Loans of SC Families; CM Bhagwant Mann Asserts, 'Taking loan is no one's hobby'

Chandigarh (Uttam Hindu News): Punjab government has approved the decision to waive off the loans of SC families in the cabinet meeting. In the meeting, Chief Minister Bhagwant Mann said that people's loans of twenty years have been waived off. This loan includes 30 crores principal amount, 23 crores interest and 15 crores penal interest. This was the outstanding amount for the last 20 years.
CM Mann said that it is a day of relief for thousands of families. He said that the promise made by the Finance Minister in the budget regarding loan waiver is now being fulfilled. Loans worth Rs 68 crore were pending on SC families. Let us tell you that the loans given till 31 March 2020 are being waived off. All these loans were taken to start small businesses. Education loans were also taken. There is no earning member in any house. This will benefit 4,727 families. All loans taken from PSCFS were waived off.
CM said that taking loan is not a hobby of anyone. No one thinks that they will take loan and will forgive it later. He said that people work hard. But sometimes the circumstances are not such that they can repay it. The recovery rate of cooperative bank is going on in mines. But this recovery rate in Dhuri is very good. He said that we have advised all the banks to follow this system. He said that big decisions will be taken in the coming time. From farmers to any class. Our main objective is to make Punjab Rangla Punjab again. If one bead is removed from the garland, then it is no longer a garland. CM Mann said that in the past no government has ever taken a decision in this direction.