From: P.Esakkimuthu <ttnuef@gmail.com>
Date: Sat, Mar 12, 2011 at 9:51 PM
Subject: [untouchabilityeradicationfront] No collateral required for loans to SC/ST: Mukherjee
To: untouchabilityeradicationfront@yahoogroups.com
No collateral required for loans to SC/ST: Mukherjee
NEW DELHI: The government today said the provision of collateral security for getting loans from banks has been waived for SC/ST as part of measures to grant them easier access to credit.
"There is no need for collateral security for these sections for getting bank loans," Finance Minister Pranab Mukherjee told the Lok Sabha while replying to supplementaries during the Question Hour.
He said banks should not insist on deposits while considering loan applications under government sponsored poverty alleviation schemes/self-employment programmes from borrowers of these (SC/ST) communities.
In case of rejection of loan applications of SC/ST, it should be done at the next higher level instead of at the branch level indicating proper reasons for rejection, he said.
source:The economic times dt 11.3.11
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