AgriGold depositors to get compensation tomorrow

The Chandrababu Naidu government had looted the State for five years and refused to pay back the AgriGold victims, he alleged. 
YS Jagan Mohan Reddy hands over the cheque to AgriGold depositors at Police Parade Grounds in Guntur on Thursday. (File Photo | EPS)
YS Jagan Mohan Reddy hands over the cheque to AgriGold depositors at Police Parade Grounds in Guntur on Thursday. (File Photo | EPS)

VIJAYAWADA: Reiterating that the YSRC government is committed to fulfil its poll promise of re-appropriating the due amounts to the AgriGold victims, YSRC MLC Lella Appi Reddy said the State government will be crediting money for the AgriGold customers, who deposited below Rs 20,000, on August 24.“Unlike the previous TDP government, which left the victims in dire straits, our government will fulfil the promise made to the depositors,’’ he told the media after the AgriGold victims relief committee meeting held at the party office. 

Appi Reddy said the state government has given relief to all those who have deposited up to Rs 10,000 in the scam-hit company by releasing Rs 240 crore soon after forming the government and those who have deposited up to Rs 20,000 will also be compensated by releasing Rs 511 crore. 

Appi Reddy said the company was established during the TDP regime in 1995 and the scam also came to light during former chief minister N Chandrababu Naidu’s rule. Although the firm was carrying out its operations without permission from the RBI, the then government paid no attention towards its irregularities, which eventually turned out to be a huge scam. As many as 32 lakh customers in various states (19.52 lakh depositors in AP) lost their hard earned money, he said. 

The Chandrababu Naidu government had looted the State for five years and refused to pay back the AgriGold victims, he alleged.Chief Minister YS Jagan Mohan Reddy had released the welfare calendar in February 2021 and assured to compensate AgriGold victims in August, he said and accused the opposition leaders of creating panic among the victims with false propaganda. He said there is no need to panic, as the Chief Minister will be compensating all those victims who deposited up to Rs 20,000 on August 24. He said the State government is planning to use AgriGold sites for the ‘housing for poor’ initiative.

Who will get benefit 

  • AgriGold customers, who deposited below Rs 20,000 in the firm will get benefit

  • Rs 511 crore will be released by the state govt 

  • Earlier, relief was given to  all those who have deposited up to Rs 10,000 in the scam-hit company 

  • Rs 240 crore released by State govt in phase 1 

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