MAHBUBNAGAR: The District Cooperative Central Bank (DCCB) of Mahbubnagar has been planning to disburse loans worth Rs 60 crore to people running micro, small and medium enterprises (MSMEs), in the district, said V Srinivas Goud, Minister for Excise and Prohibition.
He was speaking at a programme organised for disbursement of loans worth Rs 1 crore to micro and small business owners, organised by Mahbubnagar’s Primary Agricultural Cooperative Society (PACS). He cautioned people not to take loans from private money lenders and instructed officers concerned to prepare a list of money lenders, who have been exploiting gullible people, and book cases against them.
Under the supervision of DCCB, he added that daily and monthly financial help would be provided by the local PACS and those who need a loan could apply, along with their Aadhar card and other documents. He said that micro enterprises would be given up to Rs 1 lakh loan and 50 per cent of loans would be given to poor people.
He urged the DCCB members to work honestly and placed the responsibility of recovering loans from borrowers on PACS. He urged people to pay their instalments in time, so that tax-payer’s money could be lent to other deserving borrowers.
Mahbubnagar DCCB Chairperson Nizam Basha, said in a first, people who are member of the cooperative and own micro and small businesses are being given loans. He said people could not only get loans, they could also make deposits in their DCCB accounts.