18 Lakh Loan sanctioned to Super Bazar Ongole, November 22. Under the project of ICDP district cooperative society chairman Eedara Mohan Babu handed over a cheque of 18 lakhs to super bazar chairman Thata Prasad.
PDCCB chairman Eedara Mohan Babu said that ICDP sanctioned Rs. 10.5 Crores to the prakasam district. Till date Rs. 10 Crore loans are disbursed. The central government released these funds to strengthen the cooperative societies.
In this loan 80% as loan amount and 20 percent as subsisy to the beneficiaries. The amount to be paid in the period of 8 years. First 3 years interest only collected then the loan amount cleared within 5 years in 5 instalments.
The loan sanctioned to super bazar having 3.6 lakhs subsidy. There is 90 percent recovery of loans under this scheme said PDCCB Chairman.
In the sanctioned loan rupees 8 lakhs utilised for building repairs and the remaining 10 lakhs for the development of super bazar business said super bazar chairman Thata Prasad.
News Posted: 22 November, 2014
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