Saturday, February 27, 2010

[ZESTCaste] AP: Loans without guarantee for SC’s, ST’s from April 1

http://www.indlawnews.com/Newsdisplay.aspx?9c096330-131c-4440-a7b1-53d52ca3321d

AP: Loans without guarantee for SC's, ST's from April 1
2/26/2010

Scheduled Caste and Scheduled Tribe entrepreneurs in Andhra Pradesh
will be provided with loans without collateral security up to Rs one
crore from April one, Major Industries Minister K Lakshminarayana
informed the State Assembly.

Replying to Mr P Ramulu and other TDP members during question hour, he
said the Reserve Bank of India had made it clear that it had no
objection to the state government providing guarantee for loans
extended to SC/ST entrepreneurs.

He said Credit Guarantee Trust with a corpus fund of Rs 250 crore was
being set up jointly with Social Welfare Department and, subsequently,
the quantum of loan amount without collateral security would be
enhanced to Rs five crore to each of the SC, ST entrepreneurs.

Presently, applications of 60 SC and two ST entrepreneurs were under
consideration, the Minister said.

As of now, under the special policy for promotion of SC/ST
entrepreneurs, 150 units of SC entrepreneurs with a term loan of Rs
63.15 crore and 56 units for ST entrepreneurs with term loan of Rs
26.14 crore had been sanctioned, he added.

UNI


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