Date:03/12/2007 URL: http://www.thehindu.com/2007/12/03/stories/2007120361010400.htm

Andhra Pradesh - Hyderabad

Thrift groups to be covered under TIF

HYDERABAD: Chief Minister Y. S. Rajasekhara Reddy said that all the thrift groups in the State would be covered under Total Financial Inclusion (TIF) programme, which aims at providing loans at three per cent.

Reviewing the functioning of the self-help group activities in the State ahead of the State Level Bankers Committee meeting on December 7 with officials of the rural development, finance departments and banks here on Sunday, Dr. Reddy said this year 4,000 villages would be covered under TIF. It will be followed by 8,000 next year and 12,000 in 2009-10 and remaining villages in the fourth year, according to a press note issued by the Chief Minister’s office.

‘Pavala vaddi’

He hoped that the banking officials would cooperate with the Government in fulfilling the aim of providing loans to all the seven lakh SHGs comprising 87 lakh families.

He said that the three per cent interest rebate would be extended to the farmers.

In all, 1 crore women would be covered under the ‘Pavala vaddi’ programme.