Microfinance bank for women this week: CM
By Vaibhav Aggarwal
Dec 18, 2012
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The State government is planning to order on "Stree Nidhi", a microfinance bank for women self help groups this week.

Chief Minister, Mr. N Kiran Reddy made the announcement in an interaction session with members of self help group as a part of his three people-contact programme "Indramma Bata" at Andhra University Convocation Hall. Mr. Reddy said that the bank would help women to borrow up to Rs 25,000 directly for family and agricultural needs.

The Bank has been proposed as a co-operative between the Government of Andhra Pradesh and Mandal Mahila Samakhyas comprising women self help groups.

Mr. Reddy also promised that the State Government would provide interest free loans to women. He said, "It is enough if you pay the principal and the State Government will pay interest ranging from 12-15 per cent amounting to Rs 1,500 crore".

Chief Minister also assured women that the government would give top priority to their welfare. Mr. Reddy also promised 50 per cent reservation to women in the coming panchayat elections.


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