Chief Minister Jagan Mohan Reddy will release the Jagananna Thodu funds on behalf of the state government to the small traders in AP. Interest-free loans are being provided to traders for the fourth year in a row. A total of Rs 560.73 Cr will be disbursed to 5,10,412 beneficiaries, along with interest reimbursement of Rs 11.03 crores. The aim of this Jagananna Thodu Scheme is to provide interest free loans to support cart traders, artisans, and small traders, protecting them from moneylenders.
In this scheme offered by the banks, the government is paying the interest. Interest-free loans of Rs 549.70 crore will be released to 5,10,412 small traders across the state. A total of Rs 560.73 crore including interest reimbursement of Rs 11.03 crore will be deposited in the bank accounts of the beneficiaries from the camp office on Tuesday morning. Through this scheme, Rs 549.70 cr loan and Rs.2,975 cr has been disbursed so far to 15,87,492 small business beneficiaries. Among them, there are 13,29,011 people who have received loans multiple times after paying their loans on time.
Along with the interest reimbursement of Rs 11.03 crores provided today, interest of Rs.74.69 crores has been reimbursed to 15.31 lakh beneficiaries who have paid their loans on time.