VIJAYAWADA: Chief Minister YS Jagan Mohan Reddy will deposit Rs 1,353.76 crore directly into the bank accounts of 1,05,13,365 eligible women of 9.48 lakh Self-Help Groups (SHGs) as loan interest reimbursement under the YSR Sunna Vaddi scheme at a programme in Amalapuram of Konaseema district on Friday.
This is the fourth year in a row that the scheme is being implemented for the benefit of SHG women. The State government, with an intention to relieve the SHGs, which obtained bank loans and repaid them promptly, from the interest burden, has been bearing the interest component and remitting the amount on their behalf directly into the bank accounts of SHGs under Sunna Vaddi. With Friday’s financial assistance of Rs 1,353.76 crore, the government has disbursed Rs 4,969.05 crore under the scheme so far.
With the objective of promoting self-reliance and empowerment of women, the government has signed MoUs with reputed companies and banks for bringing sustainable financial development through YSR Cheyutha, Kapu Nestham, EBC Nestham, Aasara and Sunna Vaddi schemes. According to officials, the government has persuaded banks to reduce interest rates, resulting in Rs 1,224 crore reduction in interest burden on SHG women.