Kadapa: Rs 58.75L interest of 23,705 women beneficiaries waived off

Kadapa: As many as 20, 589 small traders got Rs 22.27 crores under 7th phase of Jagananna Thodu scheme in the district. The government also waived off Rs 58.75 lakh interest of 23,705 women beneficiaries under this scheme.

Speaking the occasion, district Collector V Vijaya Rama Raju said that Jagananna Thodu scheme is a boon for street vendors as they can have a loan of Rs 10,000 at zero per cent rate of interest from the banks. He said that generally street vendors approach private money lenders, who charge abnormal rate of interest, of their business. This would wind them in debts as the money lenders adds compound interest to the principle and there were instances of petty vendors committing suicide, he added.

The Collector explained that to avoid such incidents, the government has introduced Jagananna Thodu scheme and urged the beneficiaries to utilise the opportunity properly. In case any trader fails to secure the benefit of the scheme, they can apply at village secretariat at their respective areas, he noted.

MLC Ramachandra Reddy, DRDA PD Anandha Naik and others attended the programme.