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Andhra Pradesh
Banks to give assistance at 3 p.c. interest
Staff Reporter
ADILABAD: Total financial inclusion and debt swapping for urban self help groups (SHG) will be introduced in towns under the Mission for poverty alleviation in urban areas. Banks will now accord financial assistance at 3 per cent rate of interest.
Mission Director and Deputy Director B. Janardhan Reddy and Satyanarayana respectively told reporters here on Thursday that under the social development part of the AP Urban Services for the Poor (APUSP) of which the former is the project coordinator, Rs. 200 crore have been disbursed among the Self Help Groups members in different APUSP Municipalities.
The repayment rate of 95 per cent had encouraged the Government to extend the facility of total financial inclusion to other uncovered groups, they said.
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