ADILABAD: Lakhs of rupees meant for Self Help Group (SHG) members under the state’s Srinidhi loan scheme have been misused in erstwhile Adilabad district due to poor monitoring and delayed repayments.
The state government, through the Srinidhi Credit Cooperative Federation Limited, provides loans to SHG members to encourage small businesses and improve livelihoods.
The Mission for Elimination of Poverty in Municipal Areas (MEPMA) is responsible for monitoring the units’ progress and the loan repayment process.
However, senior officials have reportedly failed to oversee the functioning of these units for years, leading to serious financial irregularities.
MEPMA aims to strengthen SHGs by offering low-interest loans under the Srinidhi Bank scheme. But the repayment process remains slow due to misuse of funds and delays by resource persons in depositing the collected amounts.
A social audit conducted by Srinidhi Bank officials from 2017 to 2022 found that lakhs of rupees were misused in Adilabad district. In Nirmal district alone, Rs 52,45,694 was misused by resource persons, who later admitted to using the amount for personal needs.
They have failed to repay any of it so far.
Following this, Srinidhi Regional Manager Saritha filed a complaint with the additional collector, who directed the MEPMA project officer to take action. MEPMA Project Director D Subash lodged a complaint at Nirmal Town Police Station.
Cases have been filed against five resource persons: Saira Bhanu, D Jyothi, B Rajitha, L Vijaya and K Kavitha.
