PANJIM: After much hue and cry, the State government has offered One Time Settlement (OTS) scheme to assist those employees, who had availed the benefits under House Building Advance (HBA) scheme, which currently stands withdrawn from May 2020.
As per the government circular, all the erstwhile HBA beneficiaries who had their loan accounts operative with Bank of India or HDFC Bank as on May 15, 2020, are eligible under the OTS scheme.
As per the scheme, the financial assistance from the government will be limited only to the difference amount between the outstanding loan balance along with interest as per the records maintained by the Directorate of Accounts and the Banks as on May 15, 2020, that is the date of withdrawal of HBA scheme.
The government has said that it will bear the difference between the outstanding balance as per banks and total outstanding amount including interest as per Directorate of Accounts, payable to the banks.
Nearly 5,500 employees had availed benefit of HBA scheme, as per which an employee had to pay two per cent interest on the loans taken for house building while the remaining five per cent interest on the loan was paid by the government.
The State government decision created unrest amongst the beneficiaries, who made several representations to the Goa Governor and Chief Minister, to withdraw the circular scrapping the scheme, initiated way back in 1988.
The government decision to scrap the scheme is currently being challenged in the High Court.
