Chief Minister Dr. Pramod Sawant distributed Loan Closure Certificates to beneficiaries under the Loan Waiver Scheme implemented through the Goa State Scheduled Castes & Other Backward Classes Finance & Development Corporation Ltd. This provided relief from long-standing financial liabilities and enabled beneficiaries to move forward with greater financial stability.
Under the Loan Waiver Scheme, 511 beneficiaries have been covered, including the complete waiver and closure of 448 micro loan accounts, several of which had remained pending for 25 to 35 years. A further 43 beneficiaries repaid their outstanding principal amounts, enabling closure of their loan accounts, while the remaining eligible cases are being processed as per the Scheme guidelines. The Corporation has recovered ₹24.59 lakh so far under the initiative.
Addressing the gathering, Dr. Sawant stated “ The decision to waive and settle these long-pending loans was taken after considering the financial circumstances of beneficiaries and the age of several outstanding accounts. Under the Scheme, loans up to ₹10,000 were completely waived, while beneficiaries with loans above ₹10,000 were required to repay only the outstanding principal, with eligible dues being waived by the Government.
The Government’s approach is guided by the principles of Antyodaya, Sarvodaya and Gramodaya, ensuring that welfare reaches people who need it most. The Loan Waiver Scheme reflects the Government’s commitment to resolving long-standing issues faced by citizens and providing them with an opportunity to move ahead without the burden of old liabilities. To expand access to affordable credit, the Corporation provides loans at an interest rate of 8 per cent, along with interest subsidy benefits for regular repayments.
CM Dr. Sawant also highlighted the Mukhyamantri Bahujan Utkarsh Yojana, aimed at creating greater opportunities for students and beneficiaries from OBC, Economically Weaker Sections, Minorities and Persons with Disabilities. He said the initiative includes provisions for education loans of up to ₹25 lakh, with eligible students able to pursue higher and professional education at a concessional interest rate of 4 per cent, subject to the prescribed income and eligibility criteria. CM Dr. Sawant said such measures are intended to ensure that financial constraints do not prevent deserving students from pursuing higher education and building a better future.
The programme was attended by Subhash Phal Dessai, Minister for Social Welfare; Dayanand R. Mandrekar, Chairman, Goa State Scheduled Castes & Other Backward Classes Finance & Development Corporation Ltd.; Dipak Desai, Director, Directorate of Social Welfare; Deepesh Priolkar, Managing Director, Goa State Scheduled Castes & Other Backward Classes Finance & Development Corporation Ltd.; Dayanand Karbotkar, Vice Chairman of the Corporation; members of the Board of Directors, beneficiaries, senior officials and other distinguished guests.
