SHG overdues at whopping Rs 13 844 crore says SLBC

Andhra Pradesh which boasted of the SHG movement is now in a predicament as after 10 years of Congress regime, the SHG have dipped into losses, arrears and NPAs.

In view of the huge backlogs and the need for loan waivers, the Chandrababu government has sought the SERP to work out strategies to infuse capital into the SHGs and revive their activities in dairy, sand mining  and others.

The arrears from the Self Help groups in AP have reached alarming proportions of a whopping Rs.13,844 crore.

The State Level Bankers Committee was told today by the lead bank that 15.70% of SHG accounts had Outstanding at Rs.1112 crore and the NPA at 6.41% at Rs.888 crore .

The SLBC noted that many groups nearly 96660 accounts had slipped into NPA and nearly 17, 7195 accounts of groups have become over due accounts.

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