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Banks to extend assistance to women self-help groups

By Our Special Correspondent

CUDDALORE, MARCH 4. Banks have come forward to extend financial assistance to women self-help groups in the tsunami-hit areas.

The banks are concentrating on extending individual as well as group loans to enable them to take up self-help ventures.

The Circle Head of Indian Bank, M. Kathiresan, said his bank recently organised a function at Portonovo to disburse loans to the tune of Rs. 6.67 lakhs to 13 SHGs, consisting of 250 members.

The Cuddalore branches, including the Portonovo branch, sanctioned the loans. With this, the bank gave away loans totalling Rs. 9.97 lakhs ever since the tsunami left a trail of destruction on December 26, 2004. The Portonovo branch manager, R. Subramanian, spoke on the occasion.

At the Old Town branch of State Bank of India, loans amounting to Rs. 6.90 lakhs were disbursed to 12 SHGs on Thursday.

The Project Officer of the District Rural Development Agency, D. Jagannathan, highlighted the welfare measures and emphasised prompt repayment of loans.

The chief manager of the branch, R. Meenakshisundaram, spoke.

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