The Hindu 29.06.2010
Self-help groups to get 100-cr. loans
Staff Reporter
VIJAYAWADA: The Vijayawada Municipal Corporation (VMC) has plans to distribute Rs. 100-crore loans to 10,000 Self-Help Groups (SHGs) in the city by March 2011, according to Municipal Commissioner G. Ravi Babu.
The VMC organised a meeting on Monday to distribute loans worth Rs. 10.53 crores to 659 SHGs in the city.
On the occasion, he said that about 10,000 SHGs were functioning in the city and the corporation had decided to form some more SHGs. As per the new SLBC guidelines, the loans would be distributed every month. Continuous monitoring of the SHGs that availed themselves of the loans would be done by social workers and community development organisers.
Mayor M.V. Ratna Bindu, Vijayawada MP Lagadapati Rajagopal, Vijayawada West MLA Vellampalli Srinivas, Vijayawada Central MLA Malladi Vishnu, MLC Ilapuram Venkaiah, Deputy Mayor S.P. Gritton and others were present.
