All set for launch of YSR Zero-Interest Loan Scheme, 90 lakh women to benefit

The government of Andhra Pradesh headed by Chief Minister YS Jagan Mohan Reddy is all set to fulfil the promise given to DWCRA women across the state today by launching YSR Zero Interest loan scheme. Despite state revenues have stalled amid coronavirus on one side and providing financial assistance of Rs.1000 to poor families and migrants, Chief Minister Jagan Mohan Reddy has decided to fulfil the promise given to the self-help groups associations even in such difficult circumstances.

As part of this, CM Jagan will launch the YSR zero interest Loan scheme on Friday at the camp office by clicking on the button to deposit zero-interest money into the accounts of the savings associations across the country.

"With the click of this button, all the 8,78,874 savings associations in rural and urban areas of SERP and MEPMA will be credited amount through CFMS," Serp CEO Rajababu said. On the other hand, Rs. 1,400 crores will be deposited in the accounts of 90,37,254 women who are the members of various self-help groups. It is known that the interest amount is subsidised by the government.

YSR Zero Interest Loans scheme was first initiated by former CM late Dr YS Rajasekhara Reddy in the undivided Andhra Pradesh. The YSRCP government now has revived the scheme after the previous government has neglected the scheme. The scheme would begin today.