New K'taka CM waives off 1225 crore owned by weaker section
Of the total beneficiaries, 1.87 lakh belong to Schedule Castes (SC), 4,078 to Schedule Tribes (ST), 4.98 lakh to OBCs (Other Backward Classes) and three lakh to minorities.
"The waiver of loans with interest to these beneficiaries is in accordance with the promise made in our party election manifesto ahead of the assembly polls (May 5)," state's new Chief Minister Siddaramaiah told reporters.
The outstanding loans of SCs are Rs.186 crore, STs Rs.163 crore, OBCs Rs.514 crore and minorities Rs.362 crore.
The beneficiaries were given loans by the central and state governments under schemes of financial institutions Ambedkar Development Corporation, ST Development Corporation, Devaraj Urs Development Corporation and Minorities Development Corporation.
IANS
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