YSR Asara to be Launched on September 11 by Jagan to Clear Debts of SHGs

Amaravati: Chief Minister YS Jagan Mohan Reddy will launch YSR Asara scheme on September 11, benefiting nearly 8 lakh women Self Help Groups (SHGs) in the state. This scheme will free lakhs of women from a vicious debt trap, observed the Chief Minister during a recent meeting with the concerned officials.

Lakhs of poor women have been forced to take loans to cope with the costs towards education, health care, elderly care, daily needs and other emergencies. These loans pushed them into a vicious cycle of debts due to their incapability in repaying the exorbitant rates of interest.

The CM promised that the Government will reimburse all the outstanding loans taken by all the women members of SHGs belonging to the SC, ST, BC, and minority communities as on 11.4.2019 in 4 instalments. The sum of the outstanding loans as on the cut off date was calculated as Rs 27,168 Cr.

On September 11, Rs 6792 crore, benefiting 8,71,302 SHGs will be released by Chief Minister under YSR Asara scheme, informed P Raja Babu, CEO, SERP.