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CM YS Jagan Mohan Reddy reimburses Rs 15.36 crore interest
- The amount has been transferred into the accounts of 4,50,546 beneficiaries who made timely repayment
- Announces that from now on, the state govt will implement the scheme two times a year, in June and Dec
- Appeals to beneficiaries to repay the loans in time to avoid piling up NPAs which will hamper their ability to get loans in future
Amaravati: Chief Minister YS Jagan Mohan Reddy on Wednesday reimbursed the interest amount of Rs 16.36 crore to the 4,50,546 beneficiaries who availed loans and made timely repayments between November 2020 and September 2021 under Jagananna Thodu scheme.
Speaking on the occasion, the Chief Minister said that the scheme is aimed at benefiting the small and petty vendors, artisans by providing a working capital, who usually approach private parties for loans and often fall into debt trap. He said that the government is relieving them from paying heavy interest, by facilitating loans from banks and upon timely repayment of loans, all the interest amount shall be reimbursed directly to the beneficiaries' accounts, and further, they will be eligible to take the next loan.
He said that a total of 9,05,458 beneficiaries have availed interest-free loans worth Rs 905 crore in two spells of Jagananna Thodu. In November 2020, almost 5.35 lakh people and in June 2021, another 3.70 lakh people had taken loans. In this regard, the government reimbursed the interests to 4,50,546 people who repaid their loans.
The Chief Minister said that from now on Jagananna Thodu scheme will be implemented twice a year, in December and June, where new loans will be given to those who have repaid the loans and the interest shall be reimbursed along with new loans.
He appealed to the beneficiaries to repay their loans on time to avoid overdue and NPA (non-performing assets), which could hamper the chances of availing loans in future. He said that there are five per cent NPA and 11 per cent overdue in the loans taken under the scheme and directed the officials to create complete awareness on Jagananna Thodu to the beneficiaries taking loans, clearly explaining the need of timely repayment. In this context, people can call on 08912890525 to get their queries answered.
Minister for energy Balineni Srinivas Reddy, chief secretary Dr Sameer Sharma, special secretary for village and ward secretariats Ajay Jain, chief secretary of social welfare Kaki Sunita, SERP CEO AMd Imtiaz, Mepma MD Vijayalakshmi, SLBC convener Brahmananda Reddy, Sthreenidhi MD Nancharaiah and other officials were present.