On Wednesday, Andhra Pradesh Chief Minister Jagan Mohan Reddy released Rs 395 cr under the “Jagananna Thodu” scheme providing interest free loans through banks to benefit 3.95 lakh petty traders and artisans with Rs 10,000 each.
Under the scheme, AP govt provides interest-free loan of Rs 10,000 each to petty traders and artisans. Jagan Mohan Reddy also released Rs 15.17 cr towards reimbursement of interest to benefit 13.28 lakh beneficiaries who had availed of and repaid the loans promptly in the last 6 months.
AP CM said that It’s a matter of pride for AP that because of the scheme, the state has sanctioned over 24 lakh loans out of the total number of 39.21 lakh loans given in entire country.
Out of the total 15,31,347 beneficiaries, 8,74,745 traders and the artisans are promptly repaying their loans and they have become an inseparable part of the scheme by recycling their loans with the great discipline. Jagan added that it indicates a good change in society.
Jagan Mohan Reddy also informed that eligible people who have not availed scheme for any reason can apply through the village and ward secretariats and such people would be included in this scheme at the end of the social audit every 6 months.