YSR Zero Interest Loan Scheme 2020 For DWCRA, SHG Women

YSR Zero Interest Loan Scheme launch for DWCRA Women Associations SHG Group 2020-21 (Loan amount, Eligibility, How to apply, SHG Group) Application Form, Eligibility Criteria, Documents List, Status, Navasakam card, beneficiary Name, Portal, Helpline

Andhra Pradesh government has declared that it would extend help to self-help groups and women of DWCRA associations. On account of this, a new scheme has been announced through which it would be easy to offer monetary help to groups. So, the YSR Zero Interest Scheme has come into being. It shall help to cope up with the situation due to the outbreak of the pandemic. Some of the related details of entitled scheme are given in the following part

Name of the schemeYSR Zero Interest Scheme for DWCRA Women Associations
Scheme  has been launched inAndhra Pradesh
Scheme has been launched byYS Jagan Mohan Reddy
Date of announcement of scheme2020
Scheme has been implementation on24th April 2020
Fund release date27th April 2020
Target beneficiariesSelf-help groups and women belonging to DWCRA Associations
Scheme has been supervised byAndhra Pradesh Government

What are the highlighting features of the scheme?

  • Financial help–By successful implementation of the scheme, beneficiaries will be given interest-free credit offers.
  • Help for DWCRA associations – The scheme will offer monetary help to the associations.With this, the associations can perform effectively and extend business even during the lockdown for COVID-19.
  • Interest free loans – The self-help groups that are offered monetary help from state government need not pay any interest.
  • Target beneficiaries–It has been stated that the above-said scheme will benefit almost 90 lakhs female who belong to different DWCRA associations. In addition to this, different self-help groups are also included as beneficiaries.
  • Free reimbursement for the groups –Along with offering special credit, it has been decided that the state government will offer school fees for almost 11.50 lakhs students.
  • Mode of payment –The loan amount sanctioned in the name of the groups and the DWCRA associations will be credited in the linked bank accounts through DBT mode. Even the free reimbursement amount will be given to the students through the account of their mothers.

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What are the eligibility criteria of the scheme?

  • Residential proof – As thescheme has been launched by Andhra Pradesh government, only women of the state are eligible to get the scheme benefits.
  • Identity details – Only the permanent and native women candidates of the state can apply to get the scheme benefit for this lockdown.
  • Women belonging to self-help group and DWCRA –Women belonging to the self-help groups and the ones belonging to the DWCRA associations can become the beneficiaries for the interest-free credit. 
  • Bank account –The women should have active bank account as the beneficiary amount will be transferred in the account.

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Documents required for registering under the scheme

  • Residential details – The women should produce documents that helps support their claim that they are the native of the state. Some property related documents can suffice the purpose.
  • Certificate of women groups – The beneficiary need to produce certificates or equivalent documents supporting their claim of running self-help groups. Also, if women are part of DWCRA association, they should have authorized certificates of participation. 
  • Identification details – As identification proof, women need to produce voter ID card, Aadhaar card and relevant details at the time of registration.
  • Bank details –As suitable bank proof, the candidates need to produce bank account number, IFSC code, branch name and others that shall help to link the bank account for easy money transfer.

What is the amount of financial help given to the needy people?

A total amount of rupees 1400 crores have already been allotted for distribution by the state government. However, the money will be deposited in the bank accounts of beneficiaries belonging to DWCRA association along with the self-run groups.

At this time of acute financial crisis, the interest loan scheme has come up as a result of which the groups can start their services again. The monetary assistance extended by Andhra Pradesh Chief Minister shall help the disadvantaged groups take necessary steps to sustain livelihood even during the lockdown for COVID-19. Therefore, due to this joint effort of the state and central government, it shall ensure better survival ways for the poor people. With this, it would be easy for people from all strata of the society to join hands and help prevent the spread of the pandemic.

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Application process of the scheme

As the YSR Zero Interest Scheme is a newly launched scheme, the application process is yet to be launched. Once it comes up, the beneficiaries would be the first one to know about its details. However, state government is trying its best to come up with online application process making it convenient for the beneficiaries to register for it easily. 

FAQ on YSR Zero Interest Scheme

Who are the target groups of YSR Zero Interest Scheme?

The needy self-help groups and women belonging to the DWCRA associations are the main target people of the scheme.

How much money has been allotted for the scheme?

Due to the scheme, a total of rupees 1,400 crores have been offered for successful implementation of the scheme.

What is total number of women benefitted in the scheme?

A total of 90, 37,254 women belonging to the self-help groups will be benefitted from the scheme.

Who will pay for the interest of the loan?

The state government will pay for the loan amount that the poor self-help groups are offered during the lockdown period.

How can women utilize the financial help?

It can be expected that the needy women will use the money to expand their service during lockdown due to COVID-19.

How will the money be given to the beneficiaries of the scheme?

The loan amount will be offered through the direct bank account mode and so, the women should have active bank accounts linked.

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