Politics : AP Govt. to Waive Margin Money Loans to SC/STs in Last 30 Years

This is election year, and more promotions on the way to lure voters. We have seen huge traction in the last two weeks in awarding Reservations to Kapu community by all political parties. Here is another, to waive loans given to SC/STs in the last 30 years.

The State government has decided to waive margin money loans sanctioned by Andhra Pradesh Scheduled Castes Finance Corporation over the last 30 years.

It appears most of those loans did not reach expected beneficiaries at all.

The decision threatened to expose irregularities in the sanctioning of loans and nexus between bankers and brokers in denying the benefits to SC families and in defeating the objectives of welfare schemes.

The Scheduled Castes Corporation has sent letters to the ‘beneficiaries’ in Gudlur and Ulavapadu mandals that their margin money loans have been waived. The letters have caused more surprise than cheer among the addressees. They thronged the SC Corporation office here saying that they were never sanctioned any loans. Taken aback, the SC Corporation ordered inquiry to ascertain as what had happened 30 years ago.

Inquiries revealed that most of the loans sanctioned to SC families were misappropriated.

The Hindu : Andhra Pradesh / Ongole News : Data sought from bankers on loans

While Governments awards crores of rupees in loans and grants, nothing is being spent on educating beneficiaries on opportunities available and how best to leverage them, only to feed the middle men.

Note that Lok Satta is the only political party that recognize the need for education of the masses on various Government programs. It is also setting up Help centers through out AP, to help people understand, approach and take benefits of various government offerings.


Popular posts from this blog

Newsworthy News in Red October : Dow Jones & Tax Dodgers

USCIS Selects Final H1B Petitions by Random Selection - Almost a 50% chance for each Application

Wanna-be an Entrepreneur? Get Started