![]() He alleged that although beneficiaries were leaving their work and making daily visits to the bank, the bank managers were talking to them in a belittling manner. At the time, Vuyyuru Municipality Commissioner N Prakash Rao, who was later suspended for endorsing the protest, said that several banks had not been cooperating with the processing of loans under welfare schemes including Jagananna Thodu. While the first phase was launched on November 25, 2020, a month later several beneficiaries in Krishna district staged protests against delay of loan sanctions, by dumping garbage in front of banks. In the first phase, the scheme saw a few hiccups as processing of the loans was delayed by banks. No physical inspection of the applicants’ units by bankers is needed for the loan sanction, according to the scheme’s operational guidelines. The District Collectors then forward their applications to banks for further processing, who are required to disburse the loans through direct transfer to the beneficiaries’ accounts. To avail the scheme, beneficiaries must have a monthly income of less than Rs 10,000 (rural) or Rs 12,000 (urban), cannot have a shop larger than 5x5 sqft, and their family’s landholding should be under 3 acres of irrigated land, or 10 acres of irrigated/unirrigated land.Īpplications from small traders and artisans are first processed by ward and village volunteers, who verify their eligibility. ![]() While Jagananna Thodu does avail the support of the PM SVANidhi scheme, it has been extended beyond street vendors to also include small shop owners as well as people engaged in traditional handicrafts like lace work, kalamkari, Etikoppaka toys, Kondapalli toys, leather puppets, potters, Bobbili Veena, brass craft articles, etc. ![]() Prior to its launch, state BJP leaders had even claimed that the YSRCP government was merely renaming a Union government scheme, and demanded that the scheme be publicised with images of Prime Minister Narendra Modi. Jagananna Thodu is an extended version of the PM SVANidhi scheme (PM Street Vendors AtmaNirbhar Nidhi), which provides a similar working capital loan of up to Rs 10,000 to street vendors. The loan amount itself is expected to be repaid by the beneficiaries within a year, through EMIs. ![]() The government will bear the interest on these loans, and deposit the interest amount directly into the accounts of beneficiaries, who can then pay the banks. In the second phase launched on June 8, the remaining 3.7 lakh beneficiaries received the loan amount of Rs 370 crore. ![]()
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