The Andhra Pradesh Government is scheduled to release the sixth tranche of the Jagananna Thodu Scheme, on the 17th of January, Tuesday.
Mr. Y.S. Jagan Mohan Reddy, the Chief Minister of Andhra Pradesh, decided to re lend the loan amount of Rs. 10,000 to approximately 4.90 lakh beneficiaries in the sixth tranche. It is to be noted, recently on the 11th of January, the Yuvajana Sramika Rythu Congress Party (YSRCP) Government released an amount of Rs. 395 crores, benefiting 3.95 lakh beneficiaries. Of the total, the State Government would release an amount of Rs. 10,000 to 4,90,376 people each, including 3,28,402 beneficiaries from rural areas and 1,61,974 beneficiaries from urban areas. In addition to the new loan amount, the State CM also reimbursed the interest amount of the last six months, worth Rs.15.17 crores to the beneficiaries’ bank accounts.
However, the Y.S. Jagan Mohan Reddy led YSRCP Government held a meeting and decided to re lend the scheme money to 4.90 lakh people more, eligible for the scheme. The amount would be released after a meeting organised between the bankers and beneficiaries in all the mandals of the State districts.
The State Government’s Jagananna Thodu scheme, launched in 2020, provides financial assistance to small vendors and hawkers in Andhra Pradesh. Under the scheme, eligible vendors and hawkers can apply for interest free loans starting from Rs. 10,000. Vegetable vendors, fruit vendors, small shopkeepers, pushcart vendors and traditional artisans are eligible to apply for the scheme. Besides the loan, the State Government would also bear the interest money of the loan, which would be credited to the bank accounts of the beneficiaries, who have paid the loan money on time.
The decision to launch the scheme was taken to empower small vendors and assist them financially to grow their business. Another major objective of the scheme is to free vendors from heavy interest on the loans taken from private parties.
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