As many as 54,164 small traders, street vendors and people involved in various occupations on Monday received loans amounting to ₹54.16 crore with zero interest under the Jagananna Thodu scheme in East Godavari district.
Each beneficiary is entitled to a loan of ₹10,000 without any interest to run a small-scale business to earn their livelihood. The scheme aims at promising access to the institutional credit to avoid payment of high interest on the loan taken from the private moneylenders to run a business.
“People involved in various occupations and small-scale businesses are assured of loans without any guarantee. The total credit provided to the beneficiaries is above ₹147 crore under the Jagananna Thodu scheme in the three phases in East Godavari district,” said Joint Collector A. Bhargava Teja.
Kakinada MP Vanga Geetha and MLC Pandula Raveendranth Babu were present.
