Poor and illiterate people misunderstanding Pm Awas Yojana as free money
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The way PM Awas yojana is advertised many people believe that this is free money from government, In PMAY advertisements they don’t say it is actually a loan, I came across many poor people who had their houses but still they applied this loan considering it as free money assistance from govermint ,,
Many poor and illiterate people are been duped ,
If you talk to any poor beneficiary of PMAY he will say it is a free money and not a loan ..
Guys what do you say
it should be clearly written on PMAY advertisements that this is Loan and you have to return
Govt ads are misleading
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Last updated by: bikidas2060
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Subsidy is a very minimal amount but ask poor pmay loan takers most of them dont know they have to return the money otherwise they have not taken
Please anyone help me
I have taken home loan of 21 lakh and got pmay subsidy of 2.6l
1 In this case if I transfer my home loan balance form current bank to other bank will i lose, subsidy?
2 if I do prepayment of 1 lakh yearly and clear home loan in 10 years will i lose subsidy?
The poor have more brains and their strength 💪 is their mass power. In 2019 i went to central bank to close my fathers account and sitting in the managers cabin waiting for my process to complete.
There came a lady who wish to take some govt. free scheme amount credited a fresh into her account, but the staff did not allow her to take as she has pending govt. loan EMI to the tune of 3.5L. She pleaded the manager saying she does not have anything to eat and need this money to buy. Even i was very sympathtic towards poor lady, but manager is not. After pleading for 30mins she left. With in few min i see a mass gathering in the bank supporting and demanding her money.with in mins. scene changed there. The manager and staff were really on their foot to control the mob, but could not. Finally he had to heed to the power of mass and had to release amount for nit just that lady but for entire group of 70 odd.
The police who came there are helpless so the manager. It took sometime for me to digest this. This all is organised by agents and they took their cut. Ultimately everyone is happy.
only we tax payer is the sufferer. This happened in 3 tier city, in villages its even more powerful.
so never underestimate our democracy built by poor and whatever the govt. ad says once money comes to their account its gone.
A few headaches to bank staff in between.
edit:
Any free scheme of money that comes to account is independent of earlier scheme. The bank has no authority to take any deduction because of any loan borrowed by scheme qyalifier. Thats what the manager told me. There is noway the manager can recover the loan.
Govt ads are misleading
ads or govt as a whole?
yeh 2.5lakh vali yojna ha?