CM promises KSFC loans to SC/ST industrialists

Chief Minister B S Yediyurappa on Thursday announced simplifying loans for entrepreneurs of Scheduled Castes and Scheduled Tribes, especially through the Karnataka State Finance Corporation (KSFC).

This came at an event that Yediyurappa inaugurated to create awareness among SC/ST industrialists on various incentives they are entitled to.

During the event, Karnataka State SC/ST Entrepreneurs/Industrialists Association general secretary C G Srinivasan pointed out that the KSFC had stopped giving loans to them for purchase of industrial land citing rising non-performing assets (NPA).

“Clear instructions will be issued to see to it that loans are not denied citing NPAs as an excuse,” Yediyurappa said. “Directions will also be issued to the KSFC to take the land as collateral security in order to give loans,” he added.

The event also saw Yediyurappa share the stage with Congress Legislature Party (CLP) leader Siddaramaiah, a rarity as the two are busy fighting each other in the political arena.

“When I was in power, we introduced reservation in tenders for SC/ST contractors up to Rs 50 lakh. I had announced that this would be increased to Rs 1 crore. I demand that the new (BJP) government do it,” Siddaramaiah said.

Referring to the Scheduled Castes Sub-Plan and Tribal Sub-Plan (SCP-TSP), Siddaramaiah said: “If these funds are channelized properly, SC/STs will become independent in the next 10 years.”