The Hindu : Tamil Nadu / Kancheepuram News : Credit-linkage soon to 7,000 new self-help groups

Online edition of India's National Newspaper
Tuesday, Jul 20, 2004

Tamil Nadu

Tamil Nadu - Kancheepuram

Credit-linkage soon to 7,000 new self-help groups

By Our Staff Reporter

KANCHEEPURAM, JULY 19. The Canara Bank has decided to provide credit-linkage to 7,000 new women self-help groups (SHG) in Tamil Nadu during this financial year, according to George Joseph, General Manager, Circle Office, Chennai.

He disclosed this to reporters after the inauguration of the Regional Office by the District Collector, R. Venkatesan, here recently.

Mr. Joseph said already 3,000 groups had been credit-linked through various branches. Loan repayment record of SHGs prompted the bank to advance more loans to existing groups and also to bring another 10,000 groups under its service.

Of the new 10000 groups, it was proposed to provide credit-linkage to 7,000 groups.

With regard to the `anywhere banking' facility provided by the bank, Mr. Joseph said this facility had been provided in 125 branches out of the 460 branches functioning in the State.

Mr. Joseph said a proposal of restructuring existing agricultural loan was being contemplated.

Restructuring of loans would enable farmers to avail themselves of fresh loans, he pointed out and said one-time settlement scheme for loans taken prior to March 31, 2001, was also being studied.

Mr. Venkatesan urged the bankers to concentrate on improving the credit-deposit ratio though they were ready to extend loans to self-help groups.

Sixty-one branches functioning in Kancheepuram, Tiruvallur, Tiruvannamalai, Vellore and Pondicherry would come under the jurisdiction of the Kancheepuram Regional Office.

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