Keen on helping those who had borrowed money from usurers by giving loans with less interest rate
The Puthukudi branch of Pandyan Grama Bank organised a loan mela here on Thursday.
The bank Chairman N. Ravichandran extended loans to the tune of Rs. 8.15 lakh to members of Joint Liability Groups. Earlier, a loan of Rs. 71,06,000 was provided to 26 groups, traders, palmyra tappers, fishermen and self-help groups during this year.
Addressing a press conference, he said the bank was keen on helping those who had borrowed money from usurers by providing loans with less interest rate. With a target of about Rs. 10 to 15 crore, a survey was on in parts of Tirunelveli district to identify borrowers and help them.
Norms to avail loans had been simplified and the needy could approach the bank branches.
The bank would launch the scheme, ‘Elimai,’ in two to three months to extend credit facilities to traders. A maximum of Rs. 10 lakh would be offered to the needy at the rate of eight % interest.
A loan of Rs. 5,000 to 30 lakh would be given to women entrepreneurs under the scheme ‘Unnal Mudiyum Penne.’
In Kovilpatti, loans were given 300 women to set up tailoring units with a subsidy of Rs. 75,000 for each unit and they had been getting decent income thanks to their association with garment units. A loan of Rs. 11 lakh was given to 63 persons who were engaged in repairing bicycles on roadsides. A loan of Rs. 2,05,79,000 was given to 700 palmyra growers in Vembar and Sayalkudi.
The bank had done business to the tune of Rs. 11,000 crore including advance of Rs. 5,100 crore and deposits of Rs. 5,900 crore, he said.
G. Mohan, General Manager, K. Deivanayakam, Regional Manager, V. Selvaganesan, Chief Manager, S. Nellaiappan, Senior Manager, Thoothukudi, A. John Rajanayakam, Manager, Puthukudi, and M. Kanagaraj, Manager, Tharuvaikulam were present.