Vijayawada: Brahmin women, youth urged to avail loans
Chief executive officer of Andhra Pradesh Brahmin Cooperative Credit Society G Nagasai (right) addressing the media along with 33rd division corporator VNDSS Murthy in Vijayawada on Friday
The society has extended `30 crore loans throughout the State so far and the Vijayawada branch alone sanctioned loans worth `6 crore
Vijayawada: Andhra Pradesh Brahmin Cooperative Credit Society has introduced several schemes for the uplift of Brahmin women, said chief executive officer of the society G Naga Sai on Friday.
Addressing a workshop on 'Cooperatives for youth, women and weaker sections' as part of the 68th All India Cooperative Week celebrations, Naga Sai said that the three-member women groups could avail loans at the lowest rate of interest of 8.25 percent (70 paise) and in the first phase they would get Rs 45,000. If the repayment was satisfactory, they would be given Rs 75,000 second time, Rs one lakh third time and Rs 1.5 lakh fourth time.
The CEO said that the society had extended Rs 30 crore loans throughout the State so far and the Vijayawada branch alone had sanctioned loans worth Rs 6 crore.
As part of encouragement to the Brahmin youth to undertake business, they would be given Rs 2 lakh under Brahmin business loan with which they could become entrepreneurs by starting small business or small industry or trade.
He appealed to the Brahmin youth to avail the facility to grow in life.
The Brahmin Cooperative Credit Society which had a membership of 64,500 had mobilised deposits worth Rs 14 crore. So far the society, with 14 branches, had extended loans worth Rs 44 crore.
The CEO thanked Brahmin Welfare Corporation chairman Seetamraju Sudhakar and Central MLA Malladi Vishnu and deputy speaker Kona Raghupati for their cooperation for development of the society.
He said that the target to enrol two lakh members and to achieve turnover of Rs 500 crore has been set. "Awareness meetings for Brahmins regarding the society would be held soon in Vijayawada, Visakhapatnam, Guntur and Tirupati," he added.
Thirty-third(33rd) division corporator VNDSS Murthy (Sarvani Murthy) said that the society is ready to help the Brahmins to develop financially and they should utilise its services.
Earlier, Sarvani Murthy hoisted a flag. Society district manager Gorti Srinivas, assistant manager P Bindu, and the staff and members were also present.
