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Pavala vaddi for ex-servicemen

Special Correspondent

CM felicitates war widows, winners of gallantry awards

— 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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