Great news for women and those in DWCRA communities! The TDP coalition government plans to increase the loan limit for members of Self-Help Societies, which will provide relief to many people.
In Srikakulam district, over 5.5 lakh individuals stand to benefit from the increased credit limit for women’s funds, which will rise from Rs. 10 thousand to Rs. 5 lakh.
The government aims to make women’s loans accessible to all group members. Additionally, guidelines have been issued for members to receive 11% of the loan, 2% of the interest, and insurance.
However, it’s important to note that loan sanctions are grade-based. Societies in each village are categorized as A, B, C, or D, and loan amounts vary accordingly.
Streenidhi loans are expected to provide Rs. 170 crores for the current fiscal year 2024-25, with more than Rs. 60 crores already allocated to 8,812 societies.
Srikakulam Women’s Fund AGM V. Satyanarayana emphasized that measures will be taken to enhance livelihoods, with eligible community members to receive loans within an expedited 24-hour process.
Priority will be given to caste professions, the agricultural sector, and small traders, and low-interest loans will be encouraged for those seeking financial support.