AP government releases Rs1,353 cr to SHG women

Kakinada Andhra Pradesh Government on Friday disbursed an amount of Rs 1,353.76 crore for the fourth year in a row to benefit over one crore eligible women belonging to 9.48 lakh self-help groups (SHGs) on Friday under the ‘YSR Sunna Vaddi’ scheme.

Releasing the amount at a large gathering at Amalapuram in Dr BR Ambedkar Konaseema district, the Chief Minister said the YSRCP Government is totally committed to women empowerment. He said ‘today, we stand united to empower our sisters as 1,05,13,365 strong women from 9.48 lakh eligible self-help groups (SHGs) across the State have contributed Rs 1,353.76 crore as interest to banks. It is our honour to swiftly reimburse and deposit these funds into their bank accounts.”

Reddy said an astounding sum of 2.31 lakh crore has been bestowed upon the families of my esteemed sisters over the course of these four years. “This is our legacy. The zero interest scheme is not a mere concept; it is a reality unique to our State,” he declared.

Tahe ‘YSR Sunna Vaddi’ scheme is a special initiative by the YSRCP Government to support SHGs whereby if these SHGs repay their loans on time, the government takes care of the interest. In simple terms, the government pays the interest amount for them, making their loan cheaper. This payment goes directly into the SHGs bank accounts, ensuring there are no delays or middlemen.