The district administration has decided to expand the implementation of bulk finance scheme to all the mandals in the district.
On a pilot basis, the bulk finance scheme – cash credit line- was launched in Sadasivapet mandal in Medak district for which Union Bank of India (UBI) has extended a finance of Rs. 50 lakh.
According to S. Sivalakshmi, Assistant Project Manager of the programme, loans to the extent of Rs. 19 lakh was already extended to 147 members to take up petty businesses as well as other income generation activities. All those who took loans repaid the first instalment by the due date. While mandal samakhya has been taking the loan from the bank and extending the same to village organisations (VO), the VOs in turn extend the loan and collect the dues by the date and pay it back to the mandal samakhya. In Veltur village of Sadasivapet mandal around 10 members availed the loan and paid the fist instalment amount of Rs 1.7 lakh as principal and interest.