Apart from conventional small ticket loans to members of Scheduled Castes the SC Cooperative Corporation aims to expand its ambit to include a bouquet of services that include high-end credit facilitation centres, Vice Chairman and Managing Director of AP Scheduled Castes Cooperative Finance Corporation GSRKR Vijay Kumar has said.
Speaking to the media before the regional conference of the executive directors of the District SC Corporations of Srikakulam, Vizianagaram, Visakhapatnam and East Godavari district here on Sunday, Mr. Vijay Kumar explained that they were waiting for the government nod for the proposals.
The SC Corporation proposes to establish credit facilitation bureaus at Visakhapatnam, Vijayawada and Tirupati. The centre would help entrepreneurs draw up detailed project reports and also help them with bank linkages. The programme would dovetail with the Standup India programme of the Government of India and help entrepreneurs get loans up to Rs 1 crore.
Ceiling likely to be relaxed
The SC Corporation has proposed to hike the ceiling on units. For instance, there is no land available for the existing ceiling of Rs 5 lakh. The Corporation has proposed to hike it in the range of Rs 9 lakh to Rs 15 lakh depending upon the location and type of land. Earlier, comprehensive land development was considered only when the beneficiary had a contiguous 5 acre land. It is being proposed to make it available for less than 5 acre land. The proposals are under active consideration of the government, he explained. The SC Corporation plans to make literacy one of the focus areas. This would help improve the creditworthiness of the individuals with the banks and help them appreciate the training provided under the entrepreneurship development programme. The SC Corporation would also bring awareness among the beneficiaries on the need to invest the amount received as loan and not divert it to consumption.
