Jagananna Thodu: It is learned that the AP government has launched a scheme to protect small traders from the high interest rates in the state. As part of the scheme, CM YS Jagan will press the computer button at the Thadepalli camp office today and deposit the money directly in the bank accounts of the beneficiaries. By 2021, the government will have deposited Rs 16.36 crore in the bank accounts of 4,50,546 beneficiaries who made timely payments.
The AP government has come up with a vigilant supplementary scheme to keep small traders in the state from becoming a heavy burden of moneylenders. As part of this, the state government will pay interest directly to 4,50,546 beneficiaries who took loans in the early stages of November 2020 and repaid them on time by September 30, 2021. Beneficiaries who take loans in June 2021 and repay them on time will also be reimbursed by the government at the end of their loan term. The government will today deposit Rs 16.36 crore in interest in the bank accounts of 4,50,546 beneficiaries under the Jagannath Addition scheme.
Under the Jagannath addition scheme, the government is providing interest free loans of up to Rs 10,000 per annum to each small trader in the banks. The government pays the annual interest of tens of thousands of rupees directly to the beneficiaries. So far a total of 9,05,458 beneficiaries have received Rs. 905 crore interest free loans provided by the government. Poor small traders, cart traders, artisans and traditional artisans get Rs. The government will provide an interest free loan of Rs 10,000. The AP government has announced that after the beneficiaries repay the loan taken from the banks, they can again take interest free loan from the banks.
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