SC loan beneficiaries urged to avail interest waiver

The Andhra Pradesh government announced an interest waiver for beneficiaries of loans sanctioned under the National Scheduled Castes Finance and Development Corporation (NSFDC) and the National Safai Karamcharis Finance and Development Corporation (NSKFDC), said Chittoor District Scheduled Castes Corporation Executive Director J. Vikram Kumar Reddy.

According to a press release here on Saturday, the official said that the waiver applies to loans disbursed through the District SC Service Cooperative Society in undivided Chittoor district during the financial years 2015-16 to 2018-19. Under the scheme, 576 beneficiaries under NSFDC and 179 beneficiaries under NSKFDC are eligible for the relief.

He clarified that beneficiaries who repay the principal loan amount within the stipulated four-month period, ending April 2026, will be eligible for a complete waiver of the accrued interest up to August 31, 2025. The move is expected to significantly reduce the financial burden on SC entrepreneurs and self-employed individuals.

Describing the waiver as a one-time opportunity, Reddy said the initiative would particularly benefit those who were unable to repay instalments due to disruptions caused by Covid-19 and other financial hardships. He urged all eligible beneficiaries to utilise the facility and clear their outstanding dues within the deadline.

Beneficiaries have been advised to approach the District SC Corporation office in Chittoor for further details and procedural guidance, he said.