Up to Rs. 1 lakh home loan interest waiver for DK Christians

Mangalore Today News Network

Mangalore, May 11, 2012 : Christians in DK, who had borrowed home loans from public sector banks, will now get an interest waiver of up to Rs. 1 lakh under the Christian welfare schemes of the state government.

christain 2 Interest accrued on home loans taken after 2007 will be paid directly to the bank by the Karnataka Minorities Development Corporation (KMDC) Limited. N. B. Aboobakker, the chairman of the KMDC, told reporters that beneficiaries under this scheme do not have to pay back this amount.

This facility is for Christian families having an annual income of less than Rs. 1.5 lakh, said Mr. Aboobakker, adding that the government has earmarked Rs. 1.23 crore for the assistance of 164 beneficiaries in the district, who have borrowed home loans of as much as Rs. 5 lakhs.

He further said that the KMDC has the goal of distributing benefits worth Rs. 10.71 crore under a variety of schemes to a total of 5,771 members of minority communities in the district.

Under the government’s Christian Development Scheme alone, benefits worth Rs. 3.68 crore will be distributed among 1,799 Christians, he said.

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