Chief Minister reviews functioning of the thrift movement with officials
Hyderabad, September 2, 2007Andhra Pradesh Chief Minister Dr YS Rajasekhara Reddy said that the Government will extend loans worth Rs.1 lakh crore to Self Help Groups (SHG) in the next four years at 3 percent interest rate. He directed the Rural Development officials to prepare a blue print for this plan. The Chief Minister has asked the Principal Secretary (Rural Development) on Sunday to prepare a list of SHG women who were eligible to get these loans.
The Chief Minister asked to the officials to see that every SHG member got a loan of Rs.1 lakh. He reviewed the functioning of the thrift movement with officials. He was informed that 86.50 lakh SHG members were beneficiaries of the three percent interest.
He said that under the Indira Kranti Patham more than 15 lakh SHG members were insured. The SHG members had diversified their activities like procuring grain and marketing products. Under the Grain Bank scheme to provide food security, close to 14 lakh women were enrolled. Women's groups had set up 530 purchase centres in the State and earned revenue to the tune of Rs. 218 crores.
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