AP to set up Credit Guarantee Trust

Hyderabad, Jun 13 (UNI) Andhra Pradesh will set up an SC/ST Credit Guarantee Trust to provide collateral security for loans to SC/ST entrepreneurs up to Rs five crore.

According to a release here today, the Chief Minister would be the Chairman of the Trust. Funds were likely to be pooled from the Special Component Plan and Tribal Sub Plan.

The nodal committee could also pool funds from the budgetary allocations for the SCs/STs in various departments.

The government also decided to provide investment subsidy, 35 per cent to 40 per cent, for women entrepreneurs.

The trust would also provide credit facilities to eligible borrowers, the release added.

UNI AP DS LS BD2345