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Concern over delay in sanction of loans for Kapus
The loan disbursements by the Kapu Welfare and Development Corporation, formed by the State government, have declined notably.
- DCCB chairman and APCOB vice-chairman Varupula Raja says 15,000 applications were received for loans, of them 4,800 were
approved
- Lead Bank district manager S Jagannatha Swamy says efforts are on to streamline the process of selection of beneficiaries by
June
Kakinada: The loan disbursements by the Kapu Welfare and Development Corporation, formed by the State government, have declined
notably.
It may be recalled here that the Kapu Welfare and Development Corporation has been extending loans to eligible beneficiaries from the
Kapu community for setting up self-employment ventures. Members of Kapu, Balija, Vantari and Telaga communities could apply for
loans up to a maximum of Rs 1 lakh for setting up of small industries in urban areas and for agri-based industries in rural areas. The
State government released Rs 100 crore for the benefit of the community in 2015-16 financial year and allocated Rs 1,000 crore in 2016
-17 financial year.
DCCB chairman and APCOB vice-chairman Varupula Raja said 15,000 applications were received for loans, of them 4,800 were approved
so far. All the eligible would get the loans, he promised. He said that the corporation would provide loans to youth, aged between 21 and
45 years and holding white ration cards, from the community.
He said eligible beneficiaries would be granted loans up to Rs 1 lakh each on 50 per cent subsidy to start small businessesand added that
they could apply for loans online (http:// apobmms.cgg.gov.in.)
District Collector H Arun Kumar asked the District Cooperative Central Bank (DCCB) to extend loans to 5,000 pending applicants.
Responding to Collector’s directive, the DCCB chairman said that they have taken steps to grant loans to 5,000 applicants.
Kapu Corporation Director Yerra Venugopalarayudu expressed concern over delay in sanction of loans to Kapu beneficiaries. However, he
said Kapu bhavans would be constructed soon, beginning with Visakhapatnam.
Andhra Bank DGM V S Seshagiri Rao informed that they have 130 branches in East Godavari district and added that they would extend
loans to all eligible beneficiaries.
Lead Bank district manager S Jagannatha Swamy said efforts are on to streamline the process of selection of beneficiaries by June.
