Sitharaman,Naidu distribute Rs 3,216 cr at Credit Outreach programme

Union Finance Minister Nirmala Sitharaman and Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday jointly distributed loans worth Rs 3,216 crore to more than one lakh beneficiaries at a mega Credit Outreach Programme in Narasaraopet, aimed at expanding access to institutional finance for farmers, women, youth and small entrepreneurs.
Held at the Kodela Siva Prasada Rao Sports Complex in Palnadu district, the programme benefited 1,03,246 individuals through loans sanctioned by commercial banks and financial institutions under various central government credit-linked schemes, according to agency reports.
The initiative is one of the largest district-level credit disbursement drives undertaken in Andhra Pradesh and is intended to strengthen financial inclusion while reducing dependence on informal moneylenders by providing affordable institutional credit.The sanctioned loans cover multiple sectors, including agriculture, micro, small and medium enterprises (MSMEs), self-employment and rural livelihoods. Farmers received financial assistance through Kisan Credit Cards (KCC) for crop cultivation, animal husbandry and fisheries, while women's Self-Help Groups (SHGs) across all 28 mandals of Palnadu district were provided bank credit to support income-generating activities.
Loans were also extended to youth entrepreneurs, street vendors, artisans and small traders under schemes such as the Pradhan Mantri Mudra Yojana (PMMY), PM SVANidhi, PM Vishwakarma, and the Prime Minister's Employment Generation Programme (PMEGP).
Chief Minister Chandrababu Naidu said his government was ensuring that banks reached people directly to provide financial assistance and promote entrepreneurship and self-employment across the state.Naidu and Sitharaman flagged off ambulances provided by Union Bank under its Corporate Social Responsibility (CSR) initiative.Apart from the loan distribution, bicycles were provided to 301 girl students, while Union Finance Minister Nirmala Sitharaman distributed tricycles to differently-abled beneficiaries. Cheques were also handed over to beneficiaries of various central government welfare schemes.
The programme venue featured 24 galleries representing different mandals, with district officials, including Tahsildars and other administrative officers, overseeing the arrangements to facilitate beneficiary outreach.According to officials, the entire sanctioned credit amount will be disbursed to beneficiaries within the next 30 days. The coordinated effort by the Centre, the Andhra Pradesh government and the banking sector is expected to improve rural liquidity, support agricultural activities, strengthen MSMEs and generate local employment opportunities in Palnadu district.The event was attended by Andhra Pradesh Finance Minister Payyavula Keshav, Members of Parliament, senior government officials and representatives of leading banks and financial institutions.