AP Govt To Relaunch Zero-Interest Loan Scheme For SHGs

Amaravati, April 20 (Maxim News): AP CM YS Jagan Mohan Reddy released Rs 766 Crore for implementation of ‘YSR zero interest loans’, said the Ministry of Finance’s Special Secretary, KVV Satyanarayana on Monday. Satyanarayana has issued an order to release Rs 765 crore for interest payments on loans taken by Self Help Groups (SHGs).

Satyanarayana said that Chief Minister Jagan Mohan Reddy will re-launch the scheme on April 24. The state government has also decided to release Rs 1,400 Crore for the implementation of the scheme. He added that these Rs 1,400 Crores will be credited directly into the accounts of 93 lakh DWCRA women beneficiaries after April 24.

He said that the YSR Zero Interest Loans scheme was actually under implementation right from Dr YS Rajasekhara Reddy’s rule in the undivided Andhra Pradesh. The previous regime in the state under Chandrababu Naidu had neglected the scheme, he revealed. As a consequence, the scheme had not been implemented since June 2016 and now the Jagan government would be reviving it from April 24. (Maxim News)