Vijayawada: Loan facility launched for OTS beneficiaries

Vijayawada: Chief Minister YS Jagan Mohan Reddy launched a loan facility for the OTS (one-time settlement) beneficiaries here on Monday.

During a review with the officials on Jagananna Sampoorna Gruha Hakku Scheme here on Monday, the Chief Minister said that providing loans would benefit the OTS beneficiaries to a great extent and handed over the cheques to the beneficiaries under Guntur Municipal Corporation.

Chaitanya Godavari Grameena Bank which operates in Guntur, Krishna, East Godavari and West Godavari districts has sanctioned loans to them. The bank offers loans from Rs 1.5 lakh to Rs 3 lakh to OTS beneficiaries.

Speaking on the occasion, the Chief Minister said the beneficiaries of OTS scheme, who belong to Guntur Corporation have paid Rs 20,000 and got clear titles for their property without any litigation and they mortgaged the property again and obtained a loan of Rs 3 lakh and this money will help their families to prosper further and added that this is a clear example of benefits of Jagananna Sampoorna Gruha Hakku Scheme.

He said each beneficiary got Rs 15,000 benefit with complete exemption of registration charges and stamp duties. He said Rs 10,000 crore debts were waived off through the OTS scheme and another Rs 1,600 crore has been further benefited by stamp duty exemptions. He directed the officials to take steps to complete the registration process for OTS beneficiaries within the stipulated time.

Meanwhile, Chaitanya Godavari Grameena Bank chairman T Kameswara Rao hailed the state government's OTS initiative, which provides clear titles for beneficiaries' properties under Jagananna Sampoorna Gruha Hakku scheme.

He informed that Rs 11,75,000 is being given to four beneficiaries under the scheme and said that there are about one lakh OTS beneficiaries in each district of four districts that are under the limits of the bank. He stated that the bank shall assist the OTS beneficiaries who approach the bank and provide loans.

SLBC (state level bank bankers committee) convenor V Brahmananda Reddy said that the state government has been providing clear titles under Jagananna Sampoorna Gruha Hakku scheme beside facilitating loans to small scale traders, vendors and self employed.

He said the idea of the Chief Minister to register and provide clear titles for OTS beneficiaries has benefitted many poor people across the state. He reminded that providing loans was difficult in the past due to lack of proper documents or security for loans and added that such scenarios have been changed and resolved.