Vijayawada, Nov 25 (UNI) Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Wednesday launched 'Jagananna Thodu' scheme and deposited Rs 905 crore for interest-free loans to 9.05 lakh eligible petty traders and artisans.
Speaking on this occasion, the Chief Minister said that from now on small and petty vendors, artisans needn’t approach private parties for loans and burden their lives by paying heavy interest, as they can take loans from banks under 'Jagananna Thodu' scheme to cater to their working capital.
He said as the vendors come under unorganized sector, the banks don’t provide loans and they end up approaching private parties, take loans at high-interest rates to run their businesses, and often fall into debts.