Panaji: State govt has notified an exit scheme for entrepreneurs who took loans under the Chief Minister’s Rojgar Yojana (CMRY) in the past two years but whose businesses have failed. Under the scheme, borrowers can close their loan accounts by repaying only the outstanding principal within two months, with the interest waived.Chief minister Pramod Sawant said the move will bring major relief to entrepreneurs. The Economic Development Corporation (EDC) will implement the scheme.“All accounts of the CMRY for which the first disbursement has been made up to two years before the date of the exit application are eligible for the scheme,” the notification stated.To apply, borrowers must submit a written application to the EDC explaining why they are unable to continue operating their respective business, along with supporting documents. They must also propose a repayment plan detailing how they will clear the outstanding principal within two months.Sawant chaired the 409th board meeting of EDC Ltd, during which the board took several key policy and financial decisions, including sanctioning term loans. He said the board approved the consolidated financials for FY 2025–26, recording revenues of around Rs 128 crore and profits of approximately Rs 69 crore.The chief minister also reviewed the recently amended Mukhyamantri Modified Interest Rebate Scheme, which includes an additional 5% rebate for solar projects and an additional rebate of up to Rs 15 lakh for loans under the Working Capital Term Loan Scheme.
