Chandrababu Naidu launches loan scheme for rural women

Updated: 21 Nov 2017 11:40 PM

Vijayawada (Andhra Pradesh), [India] November 21 (ANI): Andhra Pradesh Chief Minister N. Chandrababu Naidu on Tuesday launched a loan scheme for state's rural women, who want to start their own businesses.

Through the scheme - Pattabhi Sitaramayya-Self Business Group (PS-SBG) scheme of Andhra Bank - the bank would extend finance in the form of working capital and term loan to the group or in individual capacity within group to the extent of Rs. 25 lakh.

The scheme was launched in commemoration of 138th birth anniversary of Dr. Bhogaraju Pattabhi Sitaramayya, who was founder of the bank, and the silver jubilee celebrations of SHG bank linkage programme in the country.

As of now the scheme will be available in seven districts of Andhra Pradesh and two districts of Telangana.

During the occasion, Naidu said, "This 'Self Help Group' idea was mine. I wanted to launch the Development of Women and Children in Rural Areas (DWCRA) programme system for well being of women folk. The concept of SHGs brings in minimum interference of government, and that worked out well."

"Andhra Bank's initiative to change SHGs to SBG is really innovative. I congratulate the higher officials of the bank for this wonderful concept. The bank is providing Rs. 25 lakh loan amount without any collateral, so one can use it and grow to be a good entrepreneur," he said.

Subsequently, hailing the state government, Naidu added, "Andhra Pradesh is the only state government that offers Rs. 10,000 to every woman in the DWCRA and SHG groups. I wish every woman should earn at least Rs. 10,000 per month." (ANI)

This story has not been edited. It has been published as provided by ANI