Child and Women Development Corp enhances loan amount

Chandigarh, Feb 21 (UNI) The Chandigarh Child and Women Development Corporation has enhanced the loan amount from Rs 10,000 to Rs 40,000 for the women belonging to economically weaker section of the society.

Home Secretary UT, Krishna Mohan said that the loan will be give at a very nominal interest ranging from 4 per cent to 6 per cent per annum.

Mr. Mohan said that with the enhancement of loan limit, it is expected that not only the number of beneficiaries will increase rather it would be a great help to those beneficiaries who want to start their own work and needed more finances but were finding the limit of Rs 10,000 quite less.

Home Secretary also disclosed that the corporation has also come out with a policy of one time settlement by waiving off 100 per cent penal interest to those beneficiaries who intend to settle their account finally under one time settlement scheme.

Mr Mohan also informed that the decision has been taken after it was observed that the bankers were sanctioning 50 per cent of the total loan cases sponsored by the corporation in a year resultantly the prospective applicants had to face difficulty in starting their economic activity.

The Chandigarh Child and Women Development Corporation had came into existence in the year 1980 under the Companies Act 1956 with the object to provide support and help for the economic development of women, children and persons with disability in the UT, Chandigarh or any other activity directed by the National Handicapped Finance and Development Corporation (NHFDC) from time to time.

UNI JN BK1522