Scrap loan recovery from families of dead SC borrowers: Panel

Chandigarh, May 31 (IANS) The Punjab State Scheduled Castes Commission on Wednesday appealed to the state government to scrap the loans availed from the Punjab State Scheduled Castes Land Development and Finance Corporation by borrowers hailing from the SC category who have died.

Commission Chairman Rajesh Bagha said that the panel has decided that the remaining loan amount should not be recovered from the families of those borrowers who have passed away as May 31 this year.

He said that till date, there are 491 borrowers in total and an amount of Rs 3.92 crore is due from them, but these families are unable to repay this amount owing to their poor financial condition.

The commission also appealed the state government to formulate a comprehensive policy in order to ensure the waiving of loan availed by a borrower in case he or she passes away.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)