Mangalagiri Woman Gets Rs 1.25 Crore Loan Under OFOE Initiative
Madhuri’s unit currently employs 10 women. She plans to expand operations to create more jobs.
Vijayawada: A woman entrepreneur from Mangalagiri has received a major boost under AP’s flagship One Family One Entrepreneur (OFOE) initiative, with sanction of a record Rs 1.25 crore loan.
Under the direction of Chief Minister N. Chandrababu Naidu and supervision of Municipal Administration minister Ponguru Narayana, the loan has gone to Y. Madhuri, a member of Sri Sai Krishna Self-Help Group from Mangalagiri through the Livelihood Promotion (LHP) cell of MEPMA (Mission for Elimination of Poverty in Municipal Areas).
Madhuri runs a ghee production unit. She applied for financial assistance under the PMFME (Pradhan Mantri Formalisation of Micro Food Processing Enterprises) scheme. Following due diligence, the Undavalli branch of State Bank of India approved the loan and handed over the cheque, marking the highest-value PMFME loan sanctioned to a woman SHG member across Andhra Pradesh and Telangana so far.
Madhuri’s unit currently employs 10 women. She plans to expand operations to create more jobs.
The woman entrepreneur received the loan at MEPMA headquarters in the presence of Mission Director N. Tej Bharath, SBI general manager A.R.V. Subba Rao and branch manager G. Shyamala Rao.
At the same time, the Mangalagiri branch of Central Bank of India has distributed PMFME loans of ₹3.5 lakh to Gauri of the Gauri SHG and Rs 2.5 lakh to Madhavi.
Mission director Tej Bharath appreciated the support extended by Minister and Mangalagiri MLA Nara Lokesh, Mangalagiri-Tadepalli municipal commissioner Sheikh Aleem Basha, and MEPMA staff. Bharath has asked more women to utilise MEPMA’s LHP Cell portal to become self-reliant entrepreneurs.
