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Rangasamy announces waiver of loan dues

Special Correspondent

PONDICHERRY: The Chief Minister, N. Rangasamy, has announced total waiver of the principal amount and also interest and penal interest due to the Rural Development department, totaling Rs 5.18 crores due from 3,799 borrowers.

The amount was taken by the borrowers between 1965 and 1995 for housing facilities under the Village Housing Project operated by the department. The amount remained outstanding for a long time. Now it had been waived in keeping with the sustained pleas made on the floor of the Assembly by legislators, he told presspersons here on Thursday.

He also announced that the houses allotted by the Housing Board under the schemes of housing for economically weaker sections would be exempted from payment of interest if they settled the principal towards the cost of the houses allotted by the Board.

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