Indian Bank’s 10 rural branches to help SHGs

[sajiv]

VIRUDHUNAGAR: Indian Bank has proposed to set up 10 of its 16 new branches in rural areas to cater for the needs of self-help groups, Minister for Local Administration M.K. Stalin has said.

Disbursing revolving funds and bank loans to 526 SHGs here on Friday, the Minister said, "That 10 out of the 16 branches proposed by the bank are coming up in Tamil Nadu, which speak volumes about the achievement of SHG movement in the State." Among the places identified for the new branches are Dharmapuri, Tindivanam, Thanjavur, Pallavaram, Tiruchi, Madurai, Vellore and Salem.

Mr. Stalin also appreciated the SHGs for their prompt repayment of bank loans which was around 99 per cent. Stating that Tamil Nadu was pioneering the SHG movement, he said many of the States were following it.

Referring to the Re 1-a-kg rice scheme, marriage and maternity assistance schemes, he said the present government had chalked out those schemes only for the benefit of women. One of the SHGs of Padanthal near Sattur had bagged a State-level award and Rs. One lakh cash for its sustained performance, he said.

Mr. Stalin gave away Rs. 2.37 crore revolving funds and bank loans to 500 SHGs for women and 26 SHGs for men.

Virudhunagar Collector K. Raghupathy said that the SHG movement had got a new impetus only under the present government.

Minister for Backward Classes K.K.S.S.R. Ramachandran and Minister for School Education Thangam Thennarasu were present. Earlier, the Ministers inspected various works taken under the Anaithu Grama Anna Marumalarchi Thittam in E. Muthulingapuram and Naduvapatti near Sattur.