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Andhra Pradesh
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Hyderabad
Pavala vaddi for ex-servicemen
Special Correspondent
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CM felicitates war widows, winners of gallantry awards
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— PHOTO: NAGARA GOPAL
Feting a hero: Chief Minister Y.S. Rajasekhara Reddy felicitating Ashok Chakra awardee Somaiah in Hyderabad on Saturday.
HYDERABAD: Chief Minister Y.S. Rajasekhara Reddy on Saturday announced the extension of ‘pavala vaddi’ scheme of three per cent rate of interest on loans borrowed by self-help groups to business enterprises set up by ex-servicemen.
Addressing a meeting of ex-servicemen organised by AP Congress Committee here, Dr. Reddy said ex-servicemen who wished to start enterprises on self-employment basis could avail bank loans paying three per cent interest while the State government would subsidise the remaining portion of interest charged by the banks. He invited a formal request from ex-servicemen’s association to enable the government act on it.
Dr. Reddy later felicitated several war widows and winners of gallantry awards.
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