VIJAYAWADA: One Time Settlement Scheme (OTS) or Jagananna Sampoorna Gruha Hakku Scheme has proven to be more beneficial for the people of the state. Chief Minister YS Jagan Mohan Reddy on Monday launched a loan facility for beneficiaries of the OTS scheme. Chaitanya Godavari Grameena Bank extended loans worth Rs 3 lakh each to several beneficiaries in the presence of Jagan.
Speaking on the occasion, the Chief Minister said, âThe loan facility is another advantage of the OTS program. Beneficiaries will get a title deed by paying Rs 20,000. Several beneficiaries in the city of Guntur have availed the loan facility. The bank will sanction a loan up to Rs 3 lakh by keeping the house in the name of the beneficiaries as collateral.
Under the OTS scheme, debts worth Rs 10,000 crore of the poor have been forgiven, in addition to stamp duty exemption amounting to Rs 1,600 crore. Each beneficiary of the program will also benefit from an advantage of Rs 15,000 with complete exemption from registration fees and stamp duty. Jagan ordered officials to complete home registration of OTS recipients within a stipulated time.
Chairman of Chaitanya Godavari Grameena Bank, T Kameswara Rao, hailed the OTS scheme, which provides clear room securities to beneficiaries. He promised quick sanctioning of loans to OTS beneficiaries if they approach the bank, which operates in Guntur, Krishna, East Godavari and West Godavari districts. According to one estimate, there are one lakh of OTS beneficiaries in each of the four districts. The coordinator of the state-level bankers committee, V Brahmananda Reddy, said that the OTS program will enable beneficiaries to obtain loans for their economic improvement, in addition to clear house securities.