Sthreenidhi, an apex cooperative credit society set up in 2011 by the government of the Indian state of Andhra Pradesh, reportedly will disburse INR 450 crore (USD 81.6 million) for livelihood promotion and education and skill development loans. INR 300 crore (USD 54.4 million) will be disbursed as educational loans to 300,000 families with members that are part of self-help groups (SHGs). Each loan is expected to range in size from INR 50,000 (USD 900) to INR 70,000 (USD 1,200), with a term of five years. Loans will be given for courses expected to improve youth’s employability, such as those related to information technology. Details on the livelihood-promotion loans are not available.
During 2012, Sthreenidhi aims to disburse a total of INR 1,000 crore (USD 180 million) for these and other projects.
By Mihaela Grindeanu, Research Associate
Sources and Additional Resources:
The Hindu Business Line story: “Sthreenidhi to give educational, livelihood promotion loans”, http://www.thehindubusinessline.com/industry-and-economy/article3616668.ece?homepage=true&ref=wl_home
MicroCapital.org story, May 1, 2012: “MICROCAPITAL BRIEF: Microfinance Growth Slows in Andhra Pradesh, Quickens in Other Indian States”, https://www.microcapital.org/microcapital-brief-microfinance-growth-slows-in-andhra-pradesh-quickens-in-other-indian-states/
MicroCapital.org story, April 16, 2012: “MICROCAPITAL BRIEF: Microfinance Institutions Network (MFIN) Asks Reserve Bank of India (RBI) to Assist in Recovering Loans Outstanding in Andhra Pradesh”, https://www.microcapital.org/microcapital-brief-microfinance-institutions-network-mfin-asks-reserve-bank-of-india-rbi-to-assist-in-recovering-loans-outstanding-in-andhra-pradesh/
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