Latest news with #MLCC
New Indian Express
14-05-2025
- Business
- New Indian Express
MEPMA launches MLCC App for SHG loans
VIJAYAWADA: A Training of Trainers (TOT) session was held at the Mission for Elimination of Poverty in Municipal Areas (MEPMA) Head Office in Tadepalli on Tuesday to discuss the implementation of the MEPMA Loan Charge Creation (MLCC) module and other schemes. The session, directed by CM N Chandrababu Naidu and guided by Minister for Municipal Administration and Urban Development (MAUD) P Narayana, included representatives from SLBC and banks. Principal Secretary of MA&UD S Suresh Kumar said the profiling of 2,74,873 urban Self-Help Groups (SHGs), covering 28,39,046 members (99.41%), has been completed through the SHG Profiling App. The data, now Aadhaar-linked, aims to streamline loan verification, minimise fraud, and expedite disbursement via the MLCC module. MEPMA Mission Director N Tej Bharat announced that from June 1, SHG loans in urban areas will be processed solely through the MLCC app, replacing the traditional physical process.
Hans India
14-05-2025
- Business
- Hans India
2.74 lakh SHGs data digitised
Vijayawada: S Suresh Kumar, Prinicipal secretary, the department of municipal administration and urban development, said on Tuesday the digitisation of the data of 2,74,873 Self Help Groups comprising 28,39,046 (99.41 percent) members have been completed. He addressed the Training of Trainers (TOT) session held at the MEPMA Head Office in Tadepalli on Tuesday. Addressing on the occasion, Suresh Kumar said Mission for Elimination of Poverty in Municipal Areas (MEPMA) has supervised the digitization of the data of SHGs. He said the data linkage with banks will assist in thorough verification during loan sanctions to Self Help Groups. He said for this purpose, the MEPMA Loan Charge Creation (MLCC) module was developed. Through this data integration, details of SHG members and verification of other loans linked to their Aadhaar numbers become easier, he added. He further said the MEPMA has completed SHG profiling and introduced digital initiatives such as the MLCC module to digitize SHG transactions. MEPMA Mission Director N Tej Bharat, explained how to download the MLCC module app and how to use it to grant loans under the microcredit plan. He informed that from June 1 onwards loans to SHG members in urban areas should be sanctioned exclusively through this SHG Profiling App. Physical loan processing will be discontinued, he added. He informed that login credentials were provided to 2066 branches out of 2631 from 24 banks across the state. The aim is to distribute SHG loans through this system. This app helps avoid misuse of funds and prevents issues such as loan defaults. He also emphasized that 30,000 urban women should be developed into entrepreneurs across the state. Among them, 10,000 existing women entrepreneurs will receive advanced training to enhance their businesses, while 20,000 new women entrepreneurs will be developed. He requested bank representatives to cooperate in this mission. He stated that some bank branches are not permitting SHGs to withdraw their savings for internal lending and requested the bank to allow them to withdraw their money. He said internal lending is one of the basic principles (one of the five key rules) of SHG operations. Hence, a humble request is made to all banks to allow SHG groups to withdraw funds for internal lending purposes. APTIDCO MD B Sunil Kumar Reddy, representatives of the state Level bankers Committee and senior MEPMA officials and representatives of the SGHs.
Korea Herald
29-04-2025
- Automotive
- Korea Herald
Samsung Electro-Mechanics Q1 net income drops on weak currency
Samsung Electro-Mechanics Co., an electronic component affiliate of Samsung Group, said Tuesday its net profit fell 24.1 percent in the first quarter from a year earlier due mainly to a weak local currency. Net income amounted to 141.6 billion won ($98.4 million) for the January-March period, compared with 186.5 billion won a year ago, the company said in a regulatory filing. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 172.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Samsung Electro-Mechanics said the net income in the first quarter reflected a foreign exchange loss stemming from the weak Korea won against the US dollar. However, the company's operating income rose 9.2 percent on-year to 200.6 billion won for the quarter, with its revenue increasing 4.8 percent to 2.73 trillion won. The company attributed the growth in revenue and operating profit to increased sales of components for Samsung Electronics' new flagship smartphones and rising demand for automotive multilayer ceramic capacitors for artificial intelligence and chip packaging solutions for servers. Samsung Electro-Mechanics anticipated that demand for high-performance products, such as MLCC and vehicle components, will continue to grow in the second quarter. (Yonhap)
