The Hindu : Andhra Pradesh News : SC Corporation unveils action plan

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Friday, Nov 21, 2008
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Andhra Pradesh

Andhra Pradesh

SC Corporation unveils action plan

Staff Reporter

Kakinada: The SC Corporation has sanctioned loans amounting to Rs. 5.27 crores to 2,605 beneficiaries as part of the action plan for 2008-09.

“The total number of persons targeted to be provided financial assistance of Rs. 61.17 crores is 10,000,” said corporation Executive Director V. Mahipal.

Addressing media persons on Thursday, Mr. Mahipal said loans amounting to Rs. 10.5 crores were provided by banks and the SC Corporation gave total subsidy of Rs. 5.28 crores.

Under the government’s loan waiver scheme, 1.52 lakh beneficiaries were exempted from paying loans of Rs. 34.07 lakhs from the year 1974 till date. Steps were taken to recover the loans payable to banks so that the latter could extend fresh loans as per norms.

The corporation appointed officers for each revenue division to coordinate with bankers for the purpose of getting their loans repaid. The low recovery rate was a major reason for banks’ reluctance to make new disbursements.

Mr. Mahipal said the government sanctioned a budget of Rs. 60 lakhs to conduct training in 10 sectors to SC youth to enhance their employability. Computer training was one area which evoked a good response than other vocations. Those completing the training courses were being shown entry level jobs. Such candidates were offered skill upgrading courses to enable them to rise to better positions.

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