Andhra CM Remits Rs.26.62-Cr to bank Ac of beneficiaries of Jagananna Thodu
Andhra CM Remits Rs.26.62-Cr to bank Ac of beneficiaries of Jagananna Thodu

Amaravati: Chief Minister Y. S. Jagan Mohan Reddy On February 28 deposited Rs.526.62 crore into the bank accounts of 5.10 lakh small and petty vendors in the third phase of the Jagananna Thodu initiative for interest-free loans. Reddy stated at the time that the initiative was designed to help small and petty business owners in the unorganized sector by providing them with operating capital and financial assistance.

The Chif Minsiter said, the plan has benefited 14,16,091 such businesses and women so far. The entire sum disbursed to them was around Rs.1,449 crore. The CM described these businessmen as "important service providers," saying that the government was not only making institutional loans more accessible to them, but also alleviating them of the interest burden.

He explained that the scheme was deployed twice a year and asked recipients to repay their loans on time to avoid late fees.

Reddy further stated that anyone who were left out of the scheme should either contact the volunteers involved for inclusion or call the phone number 08912890525 to get any questions answered.  He noted that COVID-19 has caused 82 percent of small sellers across the country to lose income, but in Andhra Pradesh, the government stood by the oppressed people and credited Rs.1.29 lakh crore into their accounts using DBT.

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