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Interest-free loans elude Palamur SHGs
The Self Help Groups (SHGs) in Palamuru are facing severe fund crunch, as the State government has failed to release interest free loans to about 39,410 eligible SHGs out of a total 50,018 women Self Help Groups across all 64 mandals of erstwhile combined Mahbubnagar district.
Mahbubnagar: The Self Help Groups (SHGs) in Palamuru are facing severe fund crunch, as the State government has failed to release interest free loans to about 39,410 eligible SHGs out of a total 50,018 women Self Help Groups across all 64 mandals of erstwhile combined Mahbubnagar district.
“During the past 9 months not single women Self Help Group has received interest free loans. Despite many requests and representations to the bank officials and the District Rural Development Authority (DRDA) officials, there is no proper response from them,” says, Yellamma, a member of SHG from Jadcherla Mandal.
The main objective of Self Help Groups is to economically empower the womenfolk in the rural villages and ensure that they become financially self sustainable through bank loans.
During the Congress government in erstwhile Andhra Pradesh, the SHGs were provided lowest rate of 0.25 per cent interest loans from the banks.
Those groups who had successfully repaid their loans along with the interest back to the banks over a period of time will be eligible to get back the same as interest free loans to the women groups.
Out of 50,018 total SHGs in Nagarkurnool, Mahbubnagar, Wanaparthy and Gadwal, 39,410 SHGs have been found eligible to get the interest free loan of Rs. 54 crore.
However, the State government has not released this amount to the groups since past 9 months. “It is true that the SHGs in the district have not got the interest free loans.
We have submitted a detailed report to the government on this and very soon we are expecting positive response.
The SHGs need not worry, the delay is because of some technical problems,” informs Katta Damodar Reddy, Project Director DRDA.
Every year, the SHGs in united Mahbubnagar receive a total fund of Rs. 350-450 crore as bank loans. Some of the SHGs have been performing exemplary well and have achieved self- sustainability by starting their own small businesses and they have financially strong to run their households without depending on their male counterparts.
However, the recent stoppage of interest free loans to the eligible SHGs has demoralised many groups and they are worried because if the government further delays the release of the funds for 3 months, then the financial year will be over and all their funds will be lapsed.
