HYDERABAD: Telangana State Director General of Police (DGP) M Mahender Reddy announced that the limit for home loans taken by the State police personnel would be enhanced as part of the State Police Welfare Board.
The decision to increase the home loan limit for police personnel starting from a Constable to the IPS officer rank officials was taken on Tuesday. The DGP stated that the loan limit was enhanced and at the same time loan interest was also lowered so as to not burden the beneficiaries.
The decision was taken at the board meeting of the Telanagana Bhadratha and Arogya Bhadratha Trust held under the chairmanship of the DGP on Tuesday to discuss the various measures taken for the police personnel welfare.
As part of that, the interest rate on the purchase of plots was reduced from 7.5 per cent to 6.5 per cent.
Foreign education loan limits for children have been increased from Rs 15 lakh to Rs 30 lakh for police officers in all ranks.
The loan limit has been increased for those intending to build houses:
From Constable to ASI ranks- Rs. 35 lakhs to 40 lakhs,
From SI to CI rank - Rs 45 lakh to Rs 50 lakh,
From DSP to ASP rank - 55 lakh to Rs 60 lakh and for IPS from Rs 65 lakh to Rs 70 lakh.
Increase in loan limit to buy the house plots:
From Constable to ASI rank-Rs. 20 lakhs to 25 lakhs,
From SI to CI Rs 25 lakh to Rs 30 lakh,
From DSP to ASP from Rs 30 to Rs 35 lakh,
For IPS officers from Rs 40 lakh to Rs 45 lakh.
Y Gopi Reddy, state president of the Telangana Police Officers' Association, thanked the DGP on the occasion for these measures.
Presently, Bhadratha provides the following loans to its members and also pays Ex-Gratia to the families of members who have died while in service.
i) HBA Loans
ii) Personal loans for domestic purposes
iii) Loans for employees daughters marriage
iv) Educational Loans including for those going abroad
v) Computer Loans.
More than 95 per cent of the Police force have been vaccinated against Covid-19 during the pandemic. Learning from its experience during the first wave, the department adopted a multi-pronged strategy to protect its personnel and their family from being affected by the virus. The State Police Department has also set up an assistance mechanism for the benefit of their Covid-affected personnel and their families at different levels,