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PM Launches SVAMITVA Scheme, Says Property Cards To Ensure Easy Access To Bank Loans

Capital Market 

Prime Minister Narendra Modi launched physical distribution of property cards under SVAMITVA scheme through video conferencing and interacted with the beneficiaries of the scheme. Prime Minister said that the scheme is going to bring historical changes to the villages in the country. He added the country has taken another major step towards an AtmaNirbhar Bharat, as the scheme helps in making rural India self-reliant.

He said one lakh beneficiaries from Haryana, Karnataka, Madhya Pradesh, Maharashtra, Uttarakhand and Uttar Pradesh have been handed over the legal papers of their houses today and promised to give such property cards to every household in the next three - four years in every village of the country.
Prime Minister said ownership of land and house plays a big role in the development of the country. He added when there is a record of property, citizens gain confidence and new avenues of investment open.

Loan is easily available from the bank on record of property, employment and self-employment avenues open. But the difficulty is that today only one third of the population in the world has a record of their property legally. He added the property card will clear the way to buy and sell property without any dispute for the villagers.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 12 2020. 09:25 IST
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