The Andhra Pradesh government today issued an order to establish a Brahmin Co-operative Credit Society for the economic upliftment of the poor in the community.
The TDP government set up Andhra Pradesh Brahmin Corporation (ABC) in December last year to help the community which is believed to have supported the party in the Legislative Assembly elections.
The proposed society (ABC-CS) would work closely with the Brahmin Welfare Corporation to supplement its efforts in expanding credit to the financially-weak members of the community.
"In order to provide loan assistance to the needy members of the community as envisaged in the Corporation's objectives, particularly in up-scaling this activity and keeping in view the huge demand-driven expectations of the community, a Cooperative Credit Society is proposed to be established," a Government Order (GO) said.
ABC-CS, to be registered with seed capital of Rs 20 crore, shall contribute to the national cause of financial inclusion and inclusive growth, it said.
Similar corporations have been functioning in the state for other communities.
