Rs one lakh crore bank linkage for women SHGs

Hyderabad, Oct 27 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy, today assured Women Self Help Groups (SHGs) of stepping up the bank linkage for them to Rs one lakh crore in the next three to four years.

Addressing a state-level workshop on the implementation of 'Indira Kranti' Programme in urban areas, he said the government has targetted to create an additional 1.50 lakh SHGs with over 20 lakh new members as part of efforts to eradicate poverty in urban areas.

The SHG movement had already ushered in a ''silent revolution'' in the rural areas, he observed, urging the heads of the Urban Local Bodies to take the initiative to form more SHGs in their areas to wean away urban poor women from private money lenders.

He said training would be provided, for six months to the SHGs by tying up with banks and marketing agencies to make the best use of the subsidised loan programme.

Asserting that his government would continue to provide subsidies to the targetted groups, he said the SHG members would be able to get loans from banks in geometric proportion if they promptly repaid the installments.

Speaking on the occasion, Municipal Administration Minister Koneru Ranga Rao said Andhra Pradesh was the first state in the country to start IKP in the urban areas.

He urged the heads of the civic bodies to organise the poor women to form SHGs for their empowerment and poverty eradication.

UNI