GHMC gives loans worth Rs.299 crore to Self Help Groups

GHMC has spent Rs 299.01 crore against a target of Rs 295.39 crore for the year 2017-18 in granting personal loans to self-help groups (SHGs).

A total of 881 SHGs benefited from these loans in the year, while 881 individuals were given loans worth Rs 10 lakh each.The loans are being granted by the Ameerpet branch of Indian Bank, and are



treated as non-performing assets. The beneficiaries are required to pay only 0.4 to 1 per cent interest on these loans, while GHMC is paying 7 per cent interest per loan to the bank.

GHMC Commissioner B Janardhan Reddy asked the beneficiaries to pay back their loans in time to avoid paying extra interest rate.