Online edition of India's National Newspaper
Wednesday, Nov 10, 2010
ePaper | Mobile/PDA Version
Google



Andhra Pradesh
News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary |

Andhra Pradesh - Anantapur Printer Friendly Page   Send this Article to a Friend

Scheme to help poor come out of debt crisis

Staff Reporter

Anantapur: District Collector B. Janardhan Reddy has come up with a revolutionary scheme which is not only aimed at rescuing the weaker sections from the clutches of debt but also redefine their financial planning by preparing their credit plan and family budgets.

On an experimental basis, a pilot project will be prepared for implementation in the textile town of Dharmavaram where thousands of weaver families are reeling under the burden of debt.

Collector Janardhan Reddy told The Hindu that nationalised banks, Self Help Group Women, NGO's and the DRDA is being involved in the collective planning operation.

2.5 lakh under scheme

The entire Dharmavaram mandal, with a population of 2.50 lakh, is being brought under financial inclusion and the micro-credit plan is being finalised for each family.

A family budget is being formulated by assessing the family needs including housing, education and petty businesses depending upon the size of the family and family character.

A credit plan involving Rs.40,000 on an average for each family has been prepared.

The Dharmavaram town had a history of 87 percent recovery rate for loans borrowed to the tune of Rs.1250 crore during the past 10 years. However, during the past three years, the recovery rate was said to be 98 per cent for a loan amount of Rs.36 crore.

100 p.c. recovery

However, the general population is being sensitised about achieving 100 per cent recovery. The borrowers are being told to maintain good relations with banks and use their loans judiciously for meeting their needs and not indulge in extravaganza. The men and women are being advised to send their children to nearest good English medium schools and avoid ‘herd mentality' while taking decisions for the family.

Avoiding extravaganza

They were also being told to avoid building luxurious houses just to find a place among the top people in the village.

Resource persons from Siricilla village in Warangal district were also being involved in the education and sensitisation programme. The project will be executed by January 26 2011.

Printer friendly page  
Send this article to Friends by E-Mail



Andhra Pradesh

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary | Updates: Breaking News |


News Update



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Ergo | Home |

Copyright 2010, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu