VIJAYAWADA: The stage is set for the disbursement of financial aid to small and small vendors under Jagananna Thodu on Monday. Chief Minister YS Jagan Mohan Reddy will credit the amount to beneficiary accounts with one click.
Under this scheme, an interest-free loan of Rs 10,000 will be granted to 5,10,462 small and small vendors for an expenditure of Rs 526.62 crore. The amount also includes interest repayment of Rs 16.16 crore. The scheme was launched by Chief Minister Jagan Mohan Reddy on November 25, 2020 and it is the third year in a row that the scheme has been extended to benefit small and small vendors.
To date, 14,16,091 beneficiaries have received Rs. 1,416 crore and Rs. 32.51 crore has been paid to banks as interest on loans granted. The main objective of the program is to free sellers from paying high interest on loans taken from private parties.
The banks will provide loans to all eligible members and the government will pay the interest on the loan amount to the banks, repaying it to the accounts of the beneficiaries. Vegetable vendors, fruit vendors, petty traders, handcart vendors and traditional artisans are eligible.