Narasaraopet to host ₹2,000 crore mega loan on July 17: MP

MP Narasaraopet Lavu Sri Krishna Devarayalu | Photo credit: File photo

Narasaraopet MP Lavu Sri Krishna Devarayalu on Wednesday announced that a huge credit program will be held in Narasaraopet on July 17 to improve access to institutional finance for the economically weaker sections, farmers, small traders and start-ups.

The MP said at a press conference in Guntur that the programme, which will be attended by Union Finance Minister Nirmala Sitharaman and Chief Minister N. Chandrababu Naidu, is expected to facilitate the disbursement of nearly ₹2,000 crore in loans under around 20 central government schemes. About 3000 beneficiaries from all over Palnadu district are expected to participate.

Mr. Devarayalu said that for the last two years, he had been following up with the Union Finance Minister on a proposal to improve access to institutional credit in the backward district. He said many eligible beneficiaries continued to rely on private moneylenders due to difficulties in obtaining bank loans and lack of awareness of government welfare and credit-linked programs.

He said the initiative will support women’s groups in all 28 mandals and expand the PM Surya Ghar program through village clusters. He also announced that for the first time in Andhra Pradesh, eligible tribal land holders will be able to avail bank loans for their agricultural land.

Published – 8 Jul 2026 23:03 IST