VIJAYAWADA: The One-Time Settlement (OTS) Scheme or Jagananna Sampoorna Gruha Hakku Scheme has proved to be more beneficial to people of the state. Chief Minister YS Jagan Mohan Reddy launched a loan facility for beneficiaries of the OTS scheme on Monday. Chaitanya Godavari Grameena Bank provided loans to the tune of Rs 3 lakh each to several beneficiaries in the presence of Jagan.
Speaking on the occasion, the Chief Minister said, “The loan facility is another benefit of the OTS scheme. The beneficiaries will get a clear house title by paying Rs 20,000. Several beneficiaries of Guntur city have availed the loan facility. The bank will sanction loan up to Rs 3 lakh by keeping the house in beneficiaries’ name as collateral security.”
Under the OTS scheme, debts worth Rs 10,000 crore of the poor people have been waived, besides exemption of stamp duty amounting to Rs 1,600 crore. Each beneficiary of the scheme will also get a benefit of Rs 15,000 with the complete exemption of registration charge and stamp duty. Jagan directed officials to complete the house registration of OTS beneficiaries within a stipulated time.
Chaitanya Godavari Grameena Bank Chairman T Kameswara Rao hailed the OTS scheme, which provides clear house titles to beneficiaries. He promised speedy sanction of loans to OTS beneficiaries if they approach the bank, which operates in Guntur, Krishna, East Godavari and West Godavari districts. According to an estimate, there are one lakh OTS beneficiaries in each of the four districts. State-Level Bankers Committee Convenor V Brahmananda Reddy said the OTS scheme will enable beneficiaries get loans for their economic uplift, besides clear house titles.