Rs.560.73 cr released for petty traders in AP

Chief Minister YS Jaganmohan Reddy on Tuesday deposited Rs.560.73 crore under Jagananna Thodu scheme to benefit 5,10,412 small and marginal traders and artisans with interest-free loans through banks.

Amaravati: Chief Minister YS Jaganmohan Reddy on Tuesday deposited Rs.560.73 crore under Jagananna Thodu scheme to benefit 5,10,412 small and marginal traders and artisans with interest-free loans through banks.

The interest free bank loans amount to Rs. 549.7 crore at the rate of Rs.10,000 and more while Rs.11.03 crore is interest subvention in the amount credited directly to the beneficiaries bank accounts on the day.

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After releasing the amount through virtual mode, Jagan said that so far, as much as Rs.2,955.79 crore interest free loans were provided to 15,87,492 petty traders, of whom 13.29 lakh were those who repaid the loans and took fresh ones.

The interest subvention by the government so far was 74.69 crore, he disclosed, and expressed happiness that the mission to help the poor was providing good results.