'Interest on loans from Maulana Azad Corporation could be waived'

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Mumbai, Mar 18 (UNI) Minister of State for Employment and Self Employment Ranna Jagjit Singh Patil today told the Legislative Council that the interest on loans, taken by members of the minority community from the State-run Maulana Azad Economic Development Corporation, will be waived if the prinicipal amount is reimbursed as per the one-time settlement.

Janata Dal (S) member Sharad Patil and PWP member Jayant Patil alleged that the State Government was using pressure tactics to recover the loans.

The Minister said this is a loan granted by the State Government.

So, till the time the Corporation does not recover the loans, it will not be in a position to offer it to other persons.

UNI-AAA MAZ AG1643

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