Tag: loans

Ashok Gehlot approves Rs 736 crore for interest-free crop loans to farmers

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Jaipur: Rajasthan Chief Minister Ashok Gehlot has approved a financial proposal of Rs 736 crore for interest-free crop loans to the farmers of the state.
According to a statement, the chief minister has approved a grant of Rs 560 crore for farmers under interest-free crop loan subsidy scheme and Rs 176 crore under compensatory interest subsidy scheme.
According to the statement, a five percent interest subsidy will be given to the farmers who repay the longterm agriculture cooperative loan on time. Gehlot has approved the grant proposal. He has also allowed permission to give subsidy on housing loans to the farmers who have built houses on their farms.

Under this, the farmers who have repaid their long-term agricultural cooperative loans on time from April 1, 2014 will get a five percent interest subsidy every year from the state government.
Along with this, from the financial year 2023-24, a five percent interest subsidy will be given every year to the farmers who have taken housing loans to build houses on their farms.
In the budget 2023-24, Gehlot had made announcement about interest-free crop loan distribution scheme and interest subsidy for farmers.
According to another decision, the state government will provide 35,000 quintals of high quality seeds free of cost to more than 1.25 lakh farmers of the state at a cost of Rs 15 crore.

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( With inputs from www.siasat.com )

April 4, 2023
SHGs in Telangana to get Rs 2710 crore loans from Sree Nidhi

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Hyderabad: Women SHGs (self-help groups) in Telangana will be receiving Rs 2710 crore in the new financial year from Stree Nidhi Credit Cooperative Federation Limited.
The Federation approved the move in its 10th General Body Meeting held in the city on Friday.
Extension of the Mandala Samakhya’s term to three years from the existing one year and an appeal to extend Rs 5 lakh insurance coverage for SHG members in case of death was also decided during the meeting.
Lauding the services provided by the federation, Panchayat Raj and Rural Development minister E Dayakar Rao said that the Telangana Stree Nidhi was now a role model to other states.
“Impressed with the Stree Nidhi operations, the Rajasthan government was emulating the concept,” he said.
“Stree Nidhi was functioning efficiently for the last 12 years, and 5.3 lakh members from 1.59 lakh SHGs had obtained loans for different projects,” the minister added.
Employees at the event were further awarded by the minister for their input and consistency in their performances.

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#SHGs #Telangana #crore #loans #Sree #Nidhi
( With inputs from www.siasat.com )

April 1, 2023
Adani debunks reports on repayment of loans against shares

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New Delhi: The Adani Group has strongly refuted news reports which makes the baseless and deliberately mischievous claim that the Group has not completed the repayment of USD 2.15 billion in share-backed debt.
Adani has completed full prepayment of margin linked share backed financing aggregating to USD 2.15 billion and all corresponding shares pledged for those facilities have been released.
Adani said all share backed facilities availed by the promoters have been paid off.
After such repayment, ListCo pledge positions for Adani Green, Adani Ports, Adani Transmission & Adani Enterprises have reduced substantially, and only residual share pledges corresponding to Operating Company (OpCo) facilities remained outstanding.
OpCo facilities are availed by respective OpCo, and are part of their existing debt structure, and no new OpCo facilities have been availed since the short-seller report.
OpCo has secured various facilities based on the security of project assets, project cash flow and other such collaterals.
In addition to such security, listed shares have been provided as additional collateral for these OpCo liabilities for additional lender comfort.
Such facilities do not have covenants like cash margin calls, share price linked put option, etc. which exist in share backed financing.

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#Adani #debunks #reports #repayment #loans #shares
( With inputs from www.siasat.com )

March 29, 2023
Women’s Day: Rs 750 cr interest-free loans fund released for Telangana SHGs

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Hyderabad: On the occasion of Women’s Day, Rs 750 crore were released towards providing interest-free loans to women’s self-help groups (SHGs) in Telangana by the state government.
Urban development minister KT Rama Rao revealed that there are more than 1 lakh 77 thousand Self Help Societies in all the municipalities in the state, in which about 18 lakh people are still members and all of them will be useful for the interest-free loan funds released by the government on Monday.
“Of the Rs 750 crore released, Rs 250 crore would be extended to SHGs operating in municipal bodies (in 23 districts) and Rs 500 crore would be disbursed to SHGs operating in rural areas,” he added.
“Members of the women SHGs were maintaining financial discipline and were promptly repaying the loans to the banks,” KTR acknowledged.
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#Womens #Day #interestfree #loans #fund #released #Telangana #SHGs
( With inputs from www.siasat.com )

March 7, 2023
UMF demands immediate release of minority loans to its applicants

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Hyderabad: The United Muslim Federation (UMF) in the city has questioned Telangana government for sanctioning incomplete funds to the Minorities Finance Corporation for the Muslim minorities to fetch subsided loans under the state’s economic support schemes.
“Why did the government promise loans to Muslim minorities, if only 12 thousand out of the 2 lakh applicants will be getting loans under the state’s economic support scheme?”:
While more than two 2 lakh Muslims applied for the loan, the corporation reportedly said that only 50 crores out of the promised 120 crores have been sanctioned by the state government in this regard.
The federation thus held that only 12 thousand out of 2.16 lakh applicants will receive the benefit under the minority scheme.
Upset over the minorities being denied befits from the state schemes, the general secretary of the federation, Abrar Hussain Azad, held a press meeting and urged the Muslims to make a memorandum and visit their nearest corporator’s office on Friday demanding the immediate release of minority loans to all the applicants.
Officials from the federation have also directed the Muslim minorities to race out to MROs and Mandal offices and raise grievances on pending funds.
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( With inputs from www.siasat.com )

February 16, 2023
To help Earthquake hit Turkey, Pakistan not to ask Turkey for loans until next month

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People in Turkey and Syria woke up to a fatal day when earthquake of magnitude 7.8 on richter scale brought the two cities on its knees. Rescue operation are still underway as one of the worst earthquakes wiped out swaths of population, displacing several. Many countries have already sent their aids and relief to the earthquake hit places.

On Tuesday, Pakistan has also joined the countries which are helping Turkey in this tiring times. Reportedly, Pakistan has announced a series of help to Turkey.

Pakistan’s PM Shehbaz Sharif in a press conference said that Pakistan is coming forward to help Turkey and announced that no loan will be asked from the Turkey until next month. Shehbaz Sharif also said that Pakistan is ready to take the debris of the earthquake at a very low cost but Turkey needs to make the transport arrangement.

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#Earthquake #hit #Turkey #Pakistan #Turkey #loans #month
[ Disclaimer: With inputs from The Fauxy, an entertainment portal. The content is purely for entertainment purpose and readers are advised not to confuse the articles as genuine and true, these Articles are Fictitious meant only for entertainment purposes. ]

February 7, 2023
Govt to continue 50-year interest-free loans to states for another year: Sitharaman

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New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced that the Centre will continue 50-year interest-free loans to state governments for one more year.
She also said the enhanced capex of Rs 10 lakh crore for infrastructure development is at 3.3 percent of the GDP.
Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment.
An expert committee will also be set up to make infrastructure classification and financing framework suitable for Amrit Kaal, she added.
On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti – National Master Plan, aimed at developing an integrated infrastructure to reduce logistics costs.
All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative.
She also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals.

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( With inputs from www.siasat.com )

February 1, 2023
Telangana to introduce loans for farmers supplying milk to Vijaya dairy

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Hyderabad: Telangana’s Animal Husbandry Minister Talasani Srinivas Yadav on Friday, said that the state government was planning to extend loans to 2,500 to 3,000 dairy farmers.
This will be done for farmers to buy buffalos and contribute to increased production of Vijaya Dairy and would provide a livelihood to one lakh people.
During the board meeting of Telangana State Dairy Development Co-operative Federation Limited (Vijaya Dairy) held in Masab Tank on Friday, Yadav asked officials to hold a special drive to register new members to the societies delivering milk to Vijaya Dairy and omit those who have discontinued.
He also instructed officials to prepare plans for establishing four more feed mixing plants for preparing subsidized fodder, in addition to the already existing one in Gadwal. The launch of a mobile check van to inspect the quality of Vijaya Dairy products was also announced.
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#Telangana #introduce #loans #farmers #supplying #milk #Vijaya #dairy
( With inputs from www.siasat.com )

January 21, 2023