When you need a instant loan, just have a call to the lender. He comes before you with the amount, promissory note and other documents. The interest rate is very high ranging to almost 200 %. The borrower has to repay the huge interest and money with the accepted time, if not you house, vehicles and other properties will be handed over by the lender. The repayable amount would be almost 4-5 times of the loan taken. The borrower has no option, as it is a necessity for him to take the loan from the lender. But the worst part seen now is in the process of recovery, is involving women in flesh trade if they are unable to repay. It is estimated that this business turnover is around 600 crore in only Vijayawada

History:
Call Money business routed in the city almost 2-3 decades ago. It has started with un-authorized chit fund companies which are started by the migrants from Prakasam District. Trouble started in 2001 when there were several cases of default. Then Police Commissioner N.V. Surendra Babu put an end to the chit fund business by promoting public awareness and creating rowdy sheets against chit fund operators.

Then this has turned to call money business and small vendors have to take loans from these Lenders. It is know that, this call money business has first started in Anakapalli. Call money business in Vijayawada grown up, with the development of real estate business, builders etc. And after this, Patamata became the head quarters of this business after the real estate boom.

Governments must provide micro loans, promote mudra bank loans, dwacra loans and should come up with new schemes  and help these small vendors.

Chief Minister in his opening speech in the Collectors Conference told that the admin city of Amaravati would be constructed by 2018. CM repeated that, by 2029 AP should be the top most state in the city and we have to work in that direction.

Deputy CM, CS Krishna Rao, 13 district Collectors and Principal Secretaries of various departments have participated in this two day conference at Gateway Hotel, Vijayawada

Vijayawada is taking off in E-Commerce. The number of online e-commerce transactions is around 20,000 every day in Vijayawada, compared to 2000 last year. With the awareness of the consumers and people becoming more tech-savvy these days with smart phones, computers.. is the main reason. Filpakrt, Ebay, Amazon, Snap Deal have the major market share, with local e-commerce firms.

Not only shopping online, but people are also looking online for services like plumbing, electricals, cleaning, etc..

With the capital buzz and with the raise in population, E-Commerce market in Vijayawada have got more potential and expected to rise more in the coming days

AMRC (Amaravati Metro Rail Corporation) and DMRC (Delhi Metro Rail Corporation), will open the financial bids for the two sections of Vijayawda Metro today at 3.55 PM today. In September they pubished a notice for inviting tenders. Due to some requests made by the companies, the submission of bids deadline, changed from December 7th to 14th. Some of the major infra companies like soma, L&T, Tata, AFCONS given their bids.

The total cost of the Vijayawada Metro and Nidamanuru Depot is estimated to be Rs.3148 crore. From the date of awarding the contract, it is supposted to be completed in 2 years. The bids are not yet invited  for the second section of metro from PNBS to Penamaluru.

Below are the details of the first section from PNBS to Nidamanuru

Contract AMCC-01 – The first bid is for, Nidamanuru depot connection and six elevated stations at Nidamanuru, Enikepadu, Ramakrishna Weigh Bridge, Prasadampadu, Ramavarappadu Ring and Gunadala. The cost is estimated to be Rs. 390 crore.

Contract AMCC-02 – The second bid is for five elevated stations at City Cancer Hospital, SRR Government College, Sri Sathya Sai Mandir, Besant Road and Railway Station East side. The cost is estimated to be Rs. 314 crore.