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Andhra Pradesh CM distributes cheques to Agrigold depositors

Our Bureau Guntur | Updated on November 07, 2019 Published on November 07, 2019

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy gives away cheque to the victims of Agrigold Chit Fund scam. Photo: T Vijaya Kumar   -  The Hindu

Customers with deposits up to ₹10,000 were handed over the cheques

Andhra Pradesh Chief Minister YS Jaganmohan Reddy, in Guntur, on Thursday distributed cheques to the depositors of Agrigold, with deposits up to ₹10,000, who had lost their money in the scam. It had rocked the State during the Telugu Desam regime.

At a public meeting in parade grounds, he said he was deeply moved by the plight of small depositors who had lost their money in the Agrigold scam. “We were in the Opposition then. I promised you I would come to your rescue, once voted to power. Today, I have come here to fulfill the promise. In the first phase, those who have deposits up to ₹10,000 will get back the money. In the next, those with deposits up to ₹20,000 will get back the money.”

He said the present Government had allocated ₹265 crore in the Budget for the purpose and 3,70,000 small depositors would be benefited. “Agrigold's assets are caught up in litigation. Still, we have decided to provide relief to small depositors, whereas the TDP leaders, when they were in power, tried to snatch Agrigold's assets through foul means,” he said.

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Published on November 07, 2019
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