Punjab govt working for wellbeing of underprivileged sections, says CM Mann at loan waiver event
Punjab Chief Minister
Bhagwant Mann
on Sunday said his government is working untiringly for the wellbeing of the state's weaker and underprivileged sections.
Addressing a gathering after handing over loan waiver certificates to the beneficiaries here, Mann said the previous governments in the state waived loans of the affluent people but didn't bother about the welfare of the poor.
"For the first time in the history of Punjab, this reprieve is being extended to the underprivileged and weaker sections of society," Mann said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
You Might Want To Buy Baking Soda In Bulk After Reading This
Lintmit.com
Read More
Undo
The
loan waiver scheme
worth Rs 67.84 crore has benefited around 4,800 families of loanees of the Punjab Scheduled Castes Land Development and Finance Corporation (PSCFC), the chief minister said.
On June 3, the Punjab Cabinet gave its nod to waive loans amounting to Rs 67.84 crore taken by over 4,000 Dalit families from the PSCFC.
Live Events
Mann said the waiver covers all loans disbursed by the PSCFC up to March 31, 2020, offering significant relief to SC and Divyangjan (persons with disabilities) loanees.
The move will benefit 4,727 loanees for an aggregate amount of Rs 67.84 crore. The scheme will cover all the loanees, including 4,685 defaulting loanees and 42 regular loanees, government sources said.
Addressing the gathering, Mann said 'no due certificates' (NDCs) will be issued by the state government and the full amount of Rs 67.84 crore comprising principal, interest and penal interest calculated as of April 30, 2025, will be reimbursed to the PSCFC by the state government.
The loanees who previously availed benefits under the earlier waiver schemes are also eligible for coverage under this initiative, Mann said.
No recovery proceedings will be initiated against the loanees and their accounts will be considered fully settled as of the cut-off date, he added.
According to the 2011 Census, Scheduled Castes constitute 31.94 per cent of Punjab's total population and many members of this community have availed loans from the PSCFC to set up self-employment ventures aimed at economic upliftment.
However, Mann said some borrowers were unable to repay their loans due to circumstances beyond their control, leading to defaults.
These families could not repay their loans due to circumstances such as demise of the main earning member, prolonged illness, or having no other source of income, etc.
Recovering these loans from such people was unjust, so the state government has decided to waive them, the chief minister said. PTI
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
12 minutes ago
- New Indian Express
‘We don't have any compulsion to go for IPO tomorrow'
Bengaluru-based media technology company Amagi, which has initiated an initial public offering (IPO) process recently, is now expanding into Japan, Australia, Latin America, France and Germany. In an interaction with Uma Kannan, Baskar Subramanian, CEO & Co-Founder of Amagi, says they are seeing a tremendous opportunity in front of them for the next 10 years where they can build extremely large media tech company in the world and that they don't have any compulsion to go public tomorrow. The company's annual revenue in FY24 stood at Rs 942 crore. Edited excerpts: You are a media SaaS unicorn and have been in the business for over 15 years now. What does the market look like? Our customers are TV channels, content creators, live producers, sports news, and anybody who is creating content in the mid-tier to large enterprises. We don't work with the creator economy and influencer economy today; we don't have any product portfolio for it, but we work with the larger mid to enterprise sort of customers. Fundamentally, the world is becoming streaming, and all of us are only watching on IP, internet devices, be it on our phone or connected television, what we call smart TV in India. This has changed things for our customers. One, it's fragmentation of viewership. In the early days of cable, you could go to one channel and always watch the content. Now there are so many places where people are consuming content, be it YouTube, Netflix, Prime, social platforms, connected TV devices to everywhere else and this is becoming a big challenge for the broadcasters and TV channels. This is very similar to what happened in the retail industry. Suddenly people are buying in supermarkets, e-commerce stores and now quick commerce. TV is now connected in every home in India. How are you looking at the Indian market? In India, we have clients, and the country has obviously dramatically changed, given 5G connections. Here we work with Samsung, whose many channels are coming to Samsung TV Plus with the back-end being Amagi. We work with the likes of Republic TV, Times Now and Zee television and provide OTT content. India is a growing market and we have now started to expand but the country is only very close to about a percentage (1%) of our revenue. So, we continue to have a big focus on the international markets with 70% revenue coming from the US. However, we are seeing India as a growing market and it will start to become bigger and bigger for us as we go forward. What are the market opportunities that you are seeing, and whether you have competitors in India as well as outside? We started in the US, expanded into Europe, and then in Asia, we started in Singapore. We are now expanding into Japan, Australia, Latin America, France, and Germany. It's a global market and we are seeing a tremendous opportunity in front of us for the next 10 years where we can build an extremely large, world-class media tech company in the world. Amagi's competition is all traditional hardware players. And we are the only company in the world that talks about a glass-to-glass complete end solution. It is reported that you are looking to raise Rs 3,200 crore through a public listing. Are you planning to hit an IPO soon? If we go for an IPO, we'll go in India. Going through the process, understanding and evaluating markets are very different. We don't know when we do it because timing matters in this industry. As a company, we don't have any compulsion to go for an IPO tomorrow. We are a profitable company, we have money in the bank and we have investors who came in 2022. So, the idea is that eventually we will have to be a public company. If the market is really good, then maybe by the end of the year (we will go for the IPO), or else next year.
Time of India
23 minutes ago
- Time of India
Did you know: THIS Bollywood star purchased Vijay Mallya's Goa pad; paid Rs 73 crore for the luxury mansion
Vijay Mallya was back in the news this past week after his team RCB picked up the IPL trophy this season. The big win coupled with nostalgia swirling, attention once again turned to the high-profile assets he once owned, particularly the villa where Goa's most opulent parties unfolded. Among the many reports that resurfaced on the internet was the sale of his sprawling mansion, the iconic Kingfisher Villa in Goa. After the businessman landed into trouble, his plush pad found a new owner in Bollywood actor and entrepreneur Sachiin Joshi . Renamed King's Mansion, the 12,350 sq. ft. sea-facing estate in Candolim was sold in 2017 for Rs 73.01 crore. Interestingly, this paycheque was significantly lower than its original reserve price of over Rs 90 crore. The off-market sale was reportedly finalised through a private treaty, sources confirmed to PTI. This was reportedly acquired after multiple failed auction attempts by banks trying to recover dues from the businessman. 'Secured creditors have the right to go for a private treaty if the auction route fails,' a person familiar with the matter told PTI. Sprawled across a lush three-acre plot, the estate includes landscaped gardens, open-air dance floors, artificial ponds, and private swimming pools. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Windows Users Don't Forget To Do This Before Sunday Read More Undo 'Today is the day I open the gates to the world,' Joshi said in a statement, officially unveiling the property under its new name - King's Mansion. 'The brand connection from King's Beer and the inherent grandeur of the property made the choice clear.' Joshi, who rose to prominence through films like Azaan and Jackpot, is also a businessman with interests in alcohol, hospitality, wellness, and entertainment. His business ventures include King's Beer, a local favourite in Goa—creating a fitting brand extension in the rechristened mansion. Check out our list of the latest Hindi , English , Tamil , Telugu , Malayalam , and Kannada movies . Don't miss our picks for the best Hindi movies , best Tamil movies, and best Telugu films .
Time of India
23 minutes ago
- Time of India
Panchayat officials must improve efficiency: ZP CEO
Mandya: Taluk panchayat executive officers and panchayat development officers (PDOs) must perform their duties with efficiency, discipline, and integrity—earning recognition while avoiding public complaints, said zilla panchayat chief executive officer KR Nandini. Addressing a grievance redressal meeting for PDOs at Ambedkar Bhavan, Nandini emphasised the importance of self-satisfaction in public service and noted that several PDOs in the district were recognised for their exemplary work. To further encourage performance, she announced that PDOs' health will be assessed every six months, and those demonstrating exceptional work will receive awards in the presence of their families. 17,500 register for summer camp Citing the successful registration of 17,500 children for summer camps organised across all gram panchayats in the district, Nandini attributed the achievement to effective coordination between taluk panchayat executive officers and PDOs. She underscored the need for continued teamwork to serve the public efficiently. PDOs and panchayat staff were encouraged to openly share administrative concerns. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Nandini directed that taluk panchayat executive officers should conduct monthly two-to-three-hour meetings with PDOs to listen to and resolve issues. She clarified the grievance escalation protocol: unresolved complaints at the taluk level should be forwarded to the district authorities. Additionally, PDO association office bearers have been tasked with organising regular meetings at both taluk and district levels. Nodal officers assigned to each taluk will be available every Monday and Thursday from 3 to 4pm at the district headquarters to hear public grievances. The IAS officer raised serious concerns over violations of Karnataka Transparency in Public Procurements (KTPP) rules in gram panchayats. She instructed PDOs to strictly follow the 60:40 ratio policy in planning and ensure that financial transactions during general meetings adhere to the financial code and KTPP norms. Prashanth Babu, president of Mandya district unit of the Karnataka State Panchayat Development Officers' Welfare Association (R), Bengaluru, commended the district CEO for initiating a platform to address PDOs' challenges. He mentioned delayed salary payments across taluks.
