AMARAVATI: With Andhra Pradesh Chief Minister YS Jagan Mohan Reddy giving high priority to the welfare schemes and ensuring the loan disbursement process to be completed by the end of March, 5.01 lakh small traders have received interest free loans of up to Rs 10,000 under the Jagananna Thodu scheme so far.
The scheme was launched on November 25 last year and a review meeting over the progress of the scheme was conducted on the 18th of this month.
As per reports banks have extended interest-free loans to about 5.82 lakh small traders. Of this, loans were given to 5.01 lakh small traders. A total of 9.65 lakh applications were sent to the bankers who were eligible for the scheme.
Village and ward volunteers identified the beneficiaries based on the eligibility criteria and submitted their applications to the banks. Ajay Jain, Chief Secretary, Village and Ward Secretariats, said the loans would be extended to others who are eligible by the end of March and steps were being taken accordingly. He said district officials periodically visited the concerned bank branches and talked to the bank officials to see if they could grant interest free loans to small traders. A weekly review was conducted by the JCs, he said. Village and ward secretariat volunteers are distributing identity cards to small traders identified for interest free loans.
Those who are into making traditional handicrafts, whosell small items on footpaths, those who sell vegetables on push carts, those who sell food on roadside eateries, who make decorative items, pottery, leather toys, and bobbili veena makers are provided RS 10,000 interest free loans up to Rs 10,000.
The Chief Minister promulgated this scheme for small and petty vendors, artisans so that they needn’t approach private parties for loans and burden their lives by paying heavy interest. YS Jagan had witnessed the plight of small vendors and artisans during his 3,648 km padayatra, where the vendors cater to the needs of the public irrespective of the adverse weather conditions, by selling their goods.
The objective of the scheme is to free vendors from paying heavy interest to the loans taken from private parties and falling into debts. The banks will be providing loans to all the eligible members and the Government shall also pay the interest of the loan amount to banks, by reimbursing it to beneficiaries’ accounts , he said while speaking during the launch of Jagananna Thodu.
The State government had also started a special web portal to coordinate with banks and to implement the scheme giving no scope for corruption. The beneficiaries will also be provided with QR based smart ID cards and the scheme will be monitored by SERP, MEPMA officials.
On November 25, the Government deposited Rs 905 crore to 9.05 lakh small traders, through Direct Benefit Transfer method.
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