Hyderabad, Dec 4 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today said the Government would distribute Rs 7,000 crore worth bank loans at 25 paise interest rate to the members of Self Help Groups (SHGs) this year.
Reviewing the performance of the SHG-bank linkage and INDIRAMMA bridge loans with the officials concerned, Dr Reddy said Rs 6,500 crore would be distributed in rural areas. Rs 3,018 crore worth loans have been distributed to the SHG members and the target would be achieved by the end of March, he added.
The budget allocated towards subsidy on 25 paise interest rate for this year was Rs 100 crore and it would be increased to Rs 300 crore next year, he said.
The percentage of recovery from women SHGs under 25 paise interest rate loans was 98.65 and even the remaining would be recovered in due course, Dr Reddy said.
Expressing happiness that all the eligible beneficiaries have been covered in phase one and two, he said the bridge loan under INDIRAMMA housing to SHG members was increased to Rs 20,000, an official release here said.