YSR Zero Interest Scheme launch for DWCRA Women Associations 2020 (Loan amount, Eligibility, How to apply, SHG Group)
The Andhra Pradesh government had mentioned in their election manifesto that it will take the necessary steps to strengthen the self-help groups and the DWCRA associations. These bodies are commonly run and managed by women. For this, the Andhra Pradesh authority has already announced a new credit scheme to provide financial support to these organizations. The Chief Minister of the state said that the YSR Zero Interest Scheme will be implemented soon. It will give the associations the boost that they need to perform in the COVID – 19 situations.
Launch details of the scheme
|Name of the scheme||YSR Zero Interest Scheme for DWCRA Women Associations|
|Launched in||Andhra Pradesh|
|Launched by||YS Jagan Mohan Reddy|
|Date of announcement||2020|
|Date of implementation||24th April 2020|
|Fund release date||27th April 2020|
|Target beneficiaries||Self-help groups and DWCRA Women Associations|
|Supervised by||Government of Andhra Pradesh|
Key features of the scheme
- Financial assistance – The implementation of the scheme will provide the beneficiaries will interest-free credit. The groups can utilize the money for expanding their services.
- For DWCRA associations – The scheme has been developed for providing financial assistance to DWCRA associations.
- For self-help groups – The members of women’s self-help groups will also be entitled to apply and receive loan under this scheme.
- Interest free loans – The applicants, who get the credit from the state government, under this scheme, will not be charged any interest.
- Number of beneficiaries – The state reports highlight that the Zero Interest Loan scheme will directly benefit as many as 90 lakh females, which are associated with the different DWCRA associations. Apart from this, the scheme will also provide financial assistance numerous self-help groups.
- Fee reimbursement – Apart from the special credit, the Chief Minister of the state has also decided that the authority will pay the full school fee for the students. It will help around 11.50 lakh needy pupils.
- Payment mode – The loan amount, sanctioned for the self-help groups, and the DWCRA associations will be deposited in the respective bank accounts via DBT. The same mode of payment will be used by the state government to deposit the fee reimbursement amount, allocated for the students, in the account of their mothers.
Financial assistance amounts
The state reports state that the government has already allocated a whopping sum of Rs. 1400 crore. The money will be deposited in the bank accounts of the DWCRA associations and self-help groups.
The entire nation is going through a financial crisis. The interest free loan scheme will surely help the self-help groups to regain their footing. The Chief Minister of Andhra Pradesh has mentioned that the authority will take the necessary measures to ensure that the common people can tackle the COVID – 19 situations with ease. The joint efforts of the center and the state governments will ensure the survival of the needy people. Thus, cooperation of people, from all walks of the society is mandatory for containing the spread of this deadly virus.