Telangana government to provide loans worth Rs 19K crore to 3.55 lakh SHGs
The minister also launched an information booklet aimed at promoting financial literacy among members of SHGs.
Describing the action plan as a roadmap for women's economic empowerment through bank linkages, Seethakka highlighted last year's success, noting that SHGs exceeded credit targets and secured an additional Rs 5,000 crore in loans.
She emphasised that SHGs have proven their creditworthiness, with a repayment rate of 98.5%, which outpaces even that of large corporate borrowers. 'Just as we successfully implemented last year's plan, I am confident we will achieve the goals set for this year as well,' she said, while urging banks to continue their cooperation in providing credit to SHGs.
Seethakka concluded by promising that every rupee borrowed this financial year by women's groups will be repaid without a single rupee becoming an NPA.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
22 minutes ago
- Economic Times
ICICI Prudential AMC files for IPO; entirely an offer for sale by Prudential Corp
Formed in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings. Synopsis ICICI Prudential AMC has filed draft papers with SEBI for an IPO, comprising a complete offer for sale of 1.76 crore shares by Prudential Corp. The AMC, India's second-largest by AUM, will become the fifth ICICI Group firm to go public. ADVERTISEMENT The proposed IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the issue. Formed in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings, with ICICI Bank holding a 51% stake and the remaining 49% owned by its British partner. As of March 2025, the AMC held a 13% market share in quarterly average assets under management (QAAUM), serving a customer base of 14.6 million across India. With over three decades of experience in the asset management sector, it stands as a major player in the Indian mutual fund landscape. If successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following HDFC AMC, UTI AMC, Nippon Life India AMC, Aditya Birla Sun Life AMC, and Shriram AMC is led by Nimesh Vipinbabu Shah as Managing Director and CEO, and Sankaran Naren as Executive Director and CIO. In FY25, the company reported a 29.3% year-on-year increase in net profit to Rs 2,650.7 crore, while revenue jumped 38.7% to Rs 4,682.8 crore. ADVERTISEMENT The IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital, CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama Wealth, and UBS Securities read: Why are investors flocking to money market funds amid falling interest rates? This marks the first time in Indian capital markets that such a large consortium of bankers has been engaged for a single IPO. ADVERTISEMENT ICICI Bank, in a board meeting held on June 27, approved the acquisition of an additional 2% stake in ICICI Prudential AMC. The bank noted that the move was intended to preserve its majority shareholding in the event of stock-based compensation being granted by the this year, on February 12, Prudential PLC announced its plan to partially divest its holding in ICICI Prudential AMC through a potential IPO. On the same day, ICICI Bank reaffirmed its commitment to maintaining majority control of the AMC as part of its long-term strategic vision. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
23 minutes ago
- Time of India
ICICI Prudential AMC files for IPO; entirely an offer for sale by Prudential Corp
The proposed IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the issue. Formed in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings, with ICICI Bank holding a 51% stake and the remaining 49% owned by its British partner. As of March 2025, the AMC held a 13% market share in quarterly average assets under management (QAAUM), serving a customer base of 14.6 million across India. With over three decades of experience in the asset management sector, it stands as a major player in the Indian mutual fund landscape. If successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following HDFC AMC , UTI AMC , Nippon Life India AMC, Aditya Birla Sun Life AMC , and Shriram AMC. The AMC is led by Nimesh Vipinbabu Shah as Managing Director and CEO, and Sankaran Naren as Executive Director and CIO. In FY25, the company reported a 29.3% year-on-year increase in net profit to Rs 2,650.7 crore, while revenue jumped 38.7% to Rs 4,682.8 crore. The IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital, CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama Wealth, and UBS Securities India. Also read: Why are investors flocking to money market funds amid falling interest rates? This marks the first time in Indian capital markets that such a large consortium of bankers has been engaged for a single IPO. ICICI Bank, in a board meeting held on June 27, approved the acquisition of an additional 2% stake in ICICI Prudential AMC. The bank noted that the move was intended to preserve its majority shareholding in the event of stock-based compensation being granted by the AMC. Earlier this year, on February 12, Prudential PLC announced its plan to partially divest its holding in ICICI Prudential AMC through a potential IPO. On the same day, ICICI Bank reaffirmed its commitment to maintaining majority control of the AMC as part of its long-term strategic vision. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ETMarkets WhatsApp channel )
India Gazette
23 minutes ago
- India Gazette
CM Revanth Reddy appeals to Union Minister Nadda for timely release of urea to Telangana
New Delhi [India], July 9 (ANI): Telangana Chief Minister Revanth Reddy met Union Minister for Fertilizers and Chemicals JP Nadda in the national capital and requested him to supply urea allocated to Telangana on time to meet the agricultural needs during the farming season, as per a release. The Chief Minister met Nadda at the latter's official residence in Delhi on Tuesday. During the meeting, the CM brought to the notice of the Union Minister that only 3.07 lakh metric tonnes of urea was supplied between April and June as against the requirement of 5 lakh metric tonnes in the Kharif season. Given the farming activity being in full swing, CM Revanth Reddy appealed to the Union Minister to ensure no disruption in the supply of urea. Furthermore, the CM brought to the notice of the Union Minister that 63,000 metric tonnes of domestically produced urea and 97,000 metric tonnes of imported urea were to be supplied to the state for July. However, the Center has only supplied 29,000 metric tonnes of urea so far. The CM also requested Nadda to enhance the quota of domestically produced urea for Telangana and increase the number of rakes for urea supply in the wake of the reluctance of the Railways to consider the demand for more rakes. State government's Sports Advisor AP Jitender Reddy, MPs Mallu Ravi and Chamala Kiran Kumar Reddy; Ajith Reddy, Special Secretary to the Chief Minister; State Agriculture Secretary Raghunandan Rao, Central Schemes Coordination Secretary Gaurav Uppal, and others were present in the meeting. Earlier on July 8, Reddy requested Union Minister Piyush Goyal to extend central support for the development of Zaheerabad Industrial Smart City, according to an official statement. During the meeting with the Union Minister in Delhi on Tuesday, the Chief Minister appealed to Goyal to immediately release Rs 596.61 crores approved by the National Industrial Corridor Development and Implementation Trust (NICDIT) for the development of Zaheerabad Industrial Smart City. (ANI)
