Industry & Economy
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Rural Development
AP Govt to hold talks with banks on training youths
Our Bureau
Hyderabad
,
Dec. 21
THE Minister for Rural Development and Employment Generation, Mr D. Srinivas, has said that the State Government would speak to banks to discuss the Andhra Bank model of training rural youth.
Addressing members of several self-help group representatives from 16 States here on Tuesday, he referred to Andhra Bank's rural training institutes that skilled over 40,000 people.
"Banks have social responsibility apart from the commercial interests," he said.
He said the Government offered a subsidy of 3 per cent for DWCRA (Development of Women and Children in Rural Areas) members who availed of loan after July 1. "Those who repay in time and meet schedule deadlines would get the benefit," he said.
Earlier, he inaugurated a regional level expo (Regional Saras) of products made by SHGs from 16 States. The 12-day expo would close on January 1.
The Government proposed to organise trips to popular crafts villages like Pochampally in order to expose the art to craftsmen from outside.
Mr A.L. Nageshwara Rao, General Manager of Andhra Bank, said recovery rates among DWCRA groups were very high.
For one, non-performing assets on DWCRA loans given by the bank in East Godavari was just two per cent. Only 600 of 15,000 groups defaulted, he said.
After getting good response from the five training institutes, the bank proposed to open more such institutes.
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