Goa cabinet waives Rs 3.2 cr interest on old loans availed by 500 ST and OBC beneficiaries

Panaji, Jan 7 (PTI) The Goa cabinet on Wednesday decided to waive the Rs 3.20 crore interest accumulated on loans availed by 500 beneficiaries belonging to the Scheduled Tribe and OBC categories around 30 years ago, and close cases pending against them with the Revenue department.

These beneficiaries, however, will have to repay the loan principal.

"Around 500 people had procured loans, ranging from Rs 5,000 to Rs 10,000, from state-run SC-OBC Finance Corporation, 25 to 30 years ago. Since the loan has not been recovered, cases against these beneficiaries are pending before the Revenue officers.

"The state cabinet has decided to waive the accumulated interest of Rs 3.20 crore and close the pending cases," Chief Minister Pramod Sawant told reporters. PTI RPS NSK