HYDERABAD:Starting the implementation of waiver of loans availed by Women Self-Help Groups (SHGs) in the State, which is an election promise of the TDP, the Andhra Pradesh government on Saturday issued orders releasing an amount of Rs 2,660 crore as part of capital infusion to DWACRA women’s groups.
The amount will be first transferred to the AP Mahila Sadhikara Samstha, the nodal agency for implementation of the DWACRA women loan waiver scheme. From there, the first instalment for each DWACRA group, as part of loan waiver scheme, will be deposited in the account of each member.
An initial amount of Rs 3,000 for every member of the DWACRA group will be transferred to the group account between June 2 and 8.
“The State government had allocated an initial amount of Rs 3,000 crore to initiate the capital infusion process out of which Rs 2,660.06 crore has been transferred to Mahila Sadhikara Samstha’s account,” a GO issued in this regard stated.
As the government is supposed to deposit Rs 10,000 in the account of each member, the remaining amount would be deposited in a phased manner. According to a GO issued here, the interest charged by the banks on loans to SHGs for the period between February 1, 2014 and March 31, 2015, as arrived at by the Mahila Sadhikara Samstha, SERP and Mission for Elimination of Poverty in Municipal Areas (MEPMA) based on the transaction data provided by the banks, to the tune of Rs 1,310 crore would be transferred to the Mahila Sadhikara Samstha in two instalments.
Benefits to SHGs
■ Rs 2,660 cr - The amount being released as part of capital infusion to DWACRA women’s groups.
■ Rs 3,000 - The first instalment for each member to be transferred to the group account between June 2 and 8.
■ Rs 10,000 - The amount supposed to be deposited for each member as per loan waiver scheme
■ If Vaddi Leni Runalu (interest-free loans) already paid, they will be deducted from this payment to be made to banks and transferred to DWACRA groups.
■ The group loan accounts declared as non-performing assets will not be eligible for interest redemption.