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Andhra Pradesh Government introduces many schemes for the welfare of the people of the state. Similarly, Andhra Pradesh CM Jagan Mohan Reddy has launched a new scheme namely, YSR Zero Interest Loan Scheme. This Scheme’s main aim is to grant interest-free loans to the women of the Andhra Pradesh state.
In our country, many schemes are launched to provide financial support to the poor citizens of the country. And the same thing is done by the Andhra Pradesh CM Jagan Mohan Reddy. He has launched many schemes for the poor people, women, the old aged, and many more.
YST Zero Interest Loan Scheme has recently been started by the AP Government. Nowadays, women are in maximum numbers are coming forward to develop various Self Help Groups (SHGs) and help society and encourage other women to be self-dependent. This scheme is also extended to the women belonging to the DWCRA ( Development of Women and Children of Rural Area) associations and affiliations.
Andhra Pradesh Govt. has also said to provide the financial help of 1400 crore rupees to 8.78 lakh bank accounts of self-help groups below the AP YSR Zero Interest Loan Scheme. All applicants who want to apply online application must download the official notification and read all the eligibility criteria carefully.
In this article, we have provided all the necessary information related to the YSR Zero Interest Loan Scheme. Step-by-step procedure to apply for the scheme. Eligibility criteria, and documents required to apply for YSR Zero Interest Loan Scheme. Read the complete article for detailed information.
Quick Highlight on YSR Zero Interest Loan Scheme
Apply Online for YSR Zero Interest Loan Scheme (YSR ZILS) 2023- వైయస్సార్ జీరో వడ్డీ రుణ పథకం Online Registration process. YSR Zero Interest Loan Scheme Application form download PDF, check eligibility criteria and you can also search beneficiary list. Check the Online application status at the official website navasakam.ap.gov.in.
YSR జీరో వడ్డీ రుణ పథకం Latest News Update
Jagan said Rs 3,615 crore has been spent on the welfare of women under the YSR Zero Interest Loan Scheme. Andhra Pradesh Chief Minister YS Jagan Mohan Reddy released the third tranche of the YSR Zero Interest Loan Scheme funds in Ongole on Friday.
According to ABP Desam, the state government pays interest on loans taken by women’s self-help groups through banks under the YSR Zero Interest Scheme, thus, benefitting more than one crore women in 9.76 lakh SHGs.
As CM of Andhra Pradesh has election-eve promised last year, Jagan has re-launched the Zero interest scheme which will be benefited about 91 lakh members of SHGs.
As per officials, CM YS Jagan Mohan Reddy deposited Rs. 1,261 crores to zero interest beneficiaries on Friday. He said the got. has paid Rs. 1,258 crores in the 1st year, Rs. 1,096 crores under 2nd tranche, and Rs. 1,261 crore in the 3rd year under YSR Zero Interest Scheme. Total of 1.2 crore women have got benefited from this scheme.
About YSR Zero Interest Loan Scheme
The government of Andhra Pradesh launched the scheme under the governance of C Jagan Mohan Reddy namely the YSR Zero Interest Loan Scheme. This scheme aims to provide interest-free loans to the women of Andhra Pradesh state.
Because nowadays a huge number of women are coming forward to develop Self Help Groups (SHGs) to encourage women to become self-dependent and help the society. This scheme is also extended to the women belonging to the DWCRA ( Development of Women and Children of Rural Area) associations and affiliations.
AP YSR Zero Interest Loan Scheme primarily focuses on the development and economic empowerment of deserving and eligible women across the Andhra Pradesh state. The selected list of beneficiaries will be granted bank loans at zero percent interest.
CM Shri Jagan Mohan Reddy has promised to launch the zero-interest loan scheme to the common public during the election rallies. But due to the coronavirus pandemic, the public was doubtful whether CM’s promise will be fulfilled or not. But he had kept the promise and transferred Rs. 1400 crores under the scheme to reimburse the interest for over 91 Lakh women belonging to the SHGs and DWCRA associations. And due to this scheme almost, 8.78 lacs different SHGs have benefitted from this scheme.
YSR Zero Interest Loan Scheme Overview
|Scheme Name||YSR Zero Interest Loan Scheme (YSR ZILS)|
|వైయస్సార్ జీరో వడ్డీ రుణ పథకం|
|Introduced by||YS Jagan Mohan Reddy CM Of Andhra Pradesh|
|Beneficiaries||Self-help groups and DWCRA Women Associations|
|Major Benefit||Provides SHGs Rs 1,400 crore|
|Scheme Objective||Providing monetary help|
|Scheme under||State Government|
Main Objective of YSR Zero Interest Loan Scheme
Andhra Pradesh Government has launched the scheme in order to empower the women of the state. This will help women in making them economically self-dependent. As per this scheme, the women of the state will be given many opportunities to create better working surroundings and grow their respective zone.
The main objective of starting this YSR Zero Interest Loan Scheme is to make the women financially empowered and self-dependent and protected. This scheme mainly benefits the women belonging to the Self Help Groups (SHGs) and DWCRA ( Development of Rural Area Women and Children) associations.
Under this scheme, loans will be provided to the women at zero interest rate to start their own businesses. And women will also be provided with job opportunities in many sectors with the help of this scheme. Now, women will no longer depend on anyone to start their own businesses. With the help of this scheme, she will be able to start work easily by taking a zero interest recorded loan.
Around Rs. 1400 crores has been credited to the bank accounts of 8.78 lakh Self Help Groups. Under this scheme, women SHG members can take a loan of Rs. 20,000-40,000 a year. This will benefit over 91 lakh women SHG members across the state.
The main aim behind launching this scheme is to help in the development of women by providing them financial help to the SHGs. Besides this, the Andhra Pradesh govt. wants to grow the SHGs and provide loans at zero interest rate.
Third Installment Of Zero Interest Scheme
The third installment of the zero-interest loan scheme is released by CM YS Jagan Mohan Reddy to the SHGs women during the visit to Ongole town. The installment amount will be transferred into the bank account of the beneficiary woman.
At ABM College ground in Ongole town, a public meeting will be addressed by the CM. The amount will get directly transferred to the benefit account. YSR’s Zero interest loan scheme has been launched in order to provide help to the women of the state. In order to avail of the benefit of this scheme, applicants must belong to the SHGs and DWCRA association of women.
Implementation of YSR Zero Interest Loan Scheme
With the implementation of the Zero interest loan scheme, about 90 lakh women belonging to the Self-Help Groups will be benefited from interest-free loans. Women will be provided with financial help for their empowerment and self-dependence.
This scheme will help a total of 90,37,254 single women who belong to the SHGs across the state. This scheme is launched for the betterment of women.
DWCRA affiliations indicate that up to 90 lakh females will legitimately benefit from the Zero Interest Loan plan. In addition to this, the plan will also support self-improvement groups with financial support.
DWCRA affiliations and self-improvement gatherings will receive the credit sum through DBT for their particular financial balances. According to state reports, the legislature subsequently disbursed an astounding amount of money amounting to Rs. 1400 crores.
Budget of YSR Zero Interest Loan
On Tuesday, in-state Assembly at Velagapudi, Finance Minister B Rajendranath Reddy presented the state budget for the financial year 2021. Even after the financial stress due to the COVID-19, Andhra Pradesh Government has not taken a back step in allocating the funds for any scheme.
The Finance Minister said that tackling COVID is prior but on another hand, the welfare scheme is also very important. AP Govt. has raised Rs. 1,365.08 crores in the state budget for the YSR Zero Interest Loan Scheme in order to help women of Self Help Groups.
59661 Women Benefited Under YSR Zero Interest Loan Scheme
Andhra Pradesh Govt. deposits funds into the bank account of leftover beneficiaries every year. Generally, these funds get disbursed into the beneficiary account in the month of June and December every year.
This time the Andhra Pradesh Govt. deposited the funds into the bank accounts of beneficiaries on 28 December 2021. Around 9.30 lakh beneficiaries have received around Rs 703 crore in various welfare programs.
59661 women in Andhra Pradesh have been credited with Rs 53.51 crore under the YSR Zero Interest Loan Scheme. The government has also pointed out that it has not stopped implementing welfare programs even though there is a shortage of funding.
Amount Already Transferred
In order to launch the plan, the Andhra Pradesh Chief Minister officially moved Rs 1400 crore on the web towards debt repayment. The Central Minister clicked a button on the web, and the sums of 8,78,874 DWCRA bunches belonging to SERP and MEPMA were electronically transferred. There are 90,37,254 ladies individuals who are a piece of the self-improvement DWCRA gatherings across the state who will benefit from this. This is an excellent start to the program.
As per the state government’s report, more than 90 lakh women in the state are eligible to take part in the Zero Interest Loan Scheme. Various self-improvement functions will be supported by the scheme. Special financial accounts will hold funds for self-improvement meetings and DWCRA affiliation with DBT. Legislative reports indicate that only Rs. 1400 crores have been paid.
Benefits Of YSR Zero Interest Scheme
In order to encourage women across the Andhra Pradesh state to become self-sustainable, the govt. of Andhra Pradesh has launched the YST Zero Interest Loan Scheme. This scheme gives interest-free loans from different reputed banks.
Those who are eligible for YSR Zero Interest Loan Scheme must look at the benefits. Below we have discussed the benefits of the Zero Interest Scheme.
- All selected beneficiaries under this scheme can take bank loans at zero percent interest.
- Under this scheme, applicants don’t have to pay any interest on the loan.
- This scheme provides monetary assistance to DWCRA affiliates with the YSR Zero Interest Loan Scheme.
- In addition, the Chief Minister has decided to pay for all students’ school expenses. Approximately 11.50 lakh students will benefit from this program.
- A candidate taking credit from the state government will not be charged interest under the YSR Zero Interest Loan Scheme.
- Women who attend self-improvement gatherings will be able to apply for and receive advances.
Documents Required for YSR Zero Interest Loan Scheme
All eligible candidates applying for the Zero Interest Loan Scheme must check the list of documents required for applying Zero interest Loan scheme.
- Bank Details
- Aadhar card
- Photo ID proof
- SGH or DWCRA certificate
- Passport size photograph
Eligibility Criteria For YSR Zero Interest Loan Scheme
Those who are applying for the Zero Interest Loan Scheme must check the eligibility criteria mentioned below.
- The applying candidate must be a resident of Andhra Pradesh state.
- YSR Zero Interest Loan Scheme is only open for the women of AP state.
- Applicants must belong to the self-help group or DWCRA associations of women.
- They must have a working bank account number along with them.
YSR Zero Interest Loan Scheme Online Registration Procedure
The government of Andhra Pradesh has launched Zero Interest Loan Scheme for women’s self-help groups (SHGs). Andhra Pradesh CM has re-launched this scheme by releasing an amount of Rs. 1,400 crore to Rs. 8.78 lakh SHGs.
In this scheme, each SHG will get an amount ranging from Rs. 20,000 to Rs. 40,000 towards the interest component on their loans. An amount of Rs. 1,400 crore has been deposited in the bank accounts of about 8.78 lakh SHGs.
All eligible applicants who want to apply for a zero-interest scheme must read all the instructions carefully and follow the given steps to apply online application form.
Procedure to Apply Online YSR Zero Interest Loan Scheme Application Form 2023
- Firstly, visit the official website of the YSR zero-interest loan scheme
- Home page will appear on your screen.
- Here, you need to click on the “Apply Now” option
- An application form will appear on the screen.
- Enter all the required details asked in the application form like your name, contact number, email id , etc
- Now, upload all the required documents asked
- Finally, click on the “Submit” option
- In this way, you can apply under the YSR Zero interest loan scheme
a) Only the women candidates can apply for this scheme.
b) All the applicants must be natives of the Andhra Pradesh state.
c) The applicant must be an active member of any Self Help Group or DWCRA association.
d) A working bank account is obligatory so as to apply for the scheme.
a) AP YSR Zero Interest Loan Scheme Application Form
b) Aadhar Card
c) Residential Proof
d) Domicile Certificate
e) Bank account details
f) Income Certificate
g) Recent photographs
As of now, there is no online or offline application process decided by the govt for the scheme. We will let you know as soon as it is announced by the concerned authorities.
No, If you don’t work with SHG or DWCRA Women Association you can not apply for YSR Zero Interest Scheme.