CM Jagan Mohan Reddy to distribute cheques to AgriGold depositors today

Chief Minister YS Jagan Mohan Reddy will distribute cheques to AgriGold depositors at a public meeting to be held in Guntur on Thursday.

Published: 07th November 2019 09:44 AM  |   Last Updated: 07th November 2019 11:16 AM   |  A+A-

Chief Minister YS Jagan Mohan Reddy during the Cabinet meeting at the Secretariat in Velagapudi on Wednesday | Express

By Express News Service

VIJAYAWADA:  Chief Minister YS Jagan Mohan Reddy will distribute cheques to AgriGold depositors at a public meeting to be held in Guntur on Thursday. About 3.7 lakh depositors, who have less than `10,000 deposits with the scam-hit company, will be given cheques. According to information, the government will pay `263.9 core to 3,69,655 AgriGold victims. The programme is scheduled to begin at 10.30 am at Police Parade Grounds. 

In the second instalment, according to a statement from the Chief Minister’s Office on Wednesday, payments would be made for those who had made deposits less than `20,000. It may be recalled that clearing of the dues was one of the promises made by YS Jagan Mohan Reddy during his padayatra across the State before elections.

After coming to power, the YSRC government allocated `1,150 crore in the budget for clearing the dues to be paid for the depositors, who have been protesting for the last five years. AgriGold Chit Funds Pvt Ltd, established in 1995, had collected `6,380 crore from 32 lakh depositors from Andhra Pradesh, Telangana, Karnataka, Maharashtra, Odisha, Chhattisgarh, and Andaman and Nicobar Islands by promising to provide attractive interest rates.

But, it failed to repay the money upon the maturity of deposits, following which the depositors filed complaints and hit the roads demanding justice. Welcoming the government’s decision, the AgriGold Customers and Agents Welfare Association, held a press meet here on Wednesday. Honorary president of the association Muppalla Nageswara Rao said that its proposed 36-hour dharna in Vijayawada on November 18 and 19 has been cancelled. 

Proposed dharna on  Nov 18, 19 cancelled  
The AgriGold Customers and Agents Welfare Association honorary president said that its proposed 36-hour dharna in Vijayawada on November 18 and 19 has been cancelled. 

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