23,603 benefit under Jagananna Thodu in pilgrim city

Tirupati: To protect the small traders from high interest rates, the 'Jagananna Thodu' scheme was introduced by the government benefitting 23,603 beneficiaries in Tirupati district. The fifth instalment of the benefit amount was credited into the accounts of beneficiaries by the Chief Minister YS Jagan Mohan Reddy from his Tadepalli camp office on Wednesday. Under the scheme, the government will reimburse the interest amount pertaining to the last six months of Rs 15.96 crore in the state to the bank accounts of beneficiaries.

Also, it provides Rs 395 crore new interest-free bank loans at the rate of Rs 10,000 each to 3.95 lakh petty traders and traditional handicraft artisans. District revenue officer (DRO) M Srinivasa Rao participated in the programme at the Collectorate. Addressing the beneficiaries, he said that the government has been providing Jagananna Thodu through banks to petty traders and traditional handicraft artisans for the last two years so that they need not go to moneylenders or private people for their investments.

They can pay the loan amount along with interest in 12 instalments. For those who paid the loan and interest to the banks, the government has been reimbursing the interest and crediting it into their bank accounts. Under the scheme, each beneficiary will get Rs 10,000 now in the fifth instalment. Over 47,719 beneficiaries who got bank loans in the past and repaid it with interest till May 2022 have got Rs 78,47,730 as interest.

Accordingly, he released the mega cheques of Rs 23,60,30,000 and Rs 78,47,730 towards interest for the previous loans and handed over them to the beneficiaries. MEPMA PD Radhamma, DRDA PD Prabhavathamma, Manager Pattabhi Reddy and others participated in the programme.