The Hindu : Tamil Nadu / Nagapattinam News : Expedite disbursal of loans to fishermen, banks told

Online edition of India's National Newspaper
Wednesday, May 18, 2005

Tamil Nadu

Tamil Nadu - Nagapattinam

Expedite disbursal of loans to fishermen, banks told

Staff Reporter

NAGAPATTINAM: All commercial banks in this district have been told to process applications received from fishermen quickly and expedite disbursal of loans for purchase of new boats or repair of their vessels damaged by the tsunami under the Rajiv Gandhi Rehabilitation Package, J. Radhakrishnan, Collector, said here on Tuesday.

The Fisheries Department had so far forwarded about 250 applications to various banks for disbursal of loans to a tune of Rs.16.75 crores.

Banks including State Bank of India and Indian Overseas Bank had sanctioned loans to the tune of Rs.7.83 crores for 112 fishermen and owners of the boats.

He said that nearly 500 mechanised boats were damaged by the tsunami in the district and the district administration had been taking steps to provide loans to affected fishermen.

Last week, a loan of Rs.4.74 crores with an interest rate of seven per cent a year was provided by the SBI, Nagapattinam branch, to 68 fishermen for purchase and repair of boats.

The State Government had sanctioned an advance of Rs.10,000 each to fishermen for purchase of wood for catamarans.

It has sanctioned advance of 40 per cent (of the compensation paid to the fishermen) for payment to the implementing agency for repair and reconstruction of partly and fully damaged mechanised boats.

Mr. Radhakrishnan said that over 400 fibreglass boats were donated by various NGOs and social service organisations. Fishermen with fibreglass boats and catamarans were venturing into the sea and resumed fishing activity and bringing in good catches.

The Government had also decided to provide loans with 35 per cent subsidy to ice plant owners for re-establishing their plants and for `petti' (a wooden box frame structure with a trolley built for use in repair and maintenance of mechanised boats and trawlers) manufacturers.

T.S.Sarguna Pandiyan, Chief Regional Manager, IOB, Nagapattinam, has asked all banks to provide loans quickly to fishermen under the RGRP.

Printer friendly page
Send this article to Friends by E-Mail

Tamil Nadu

News Update

Stories in this Section

Expedite disbursal of loans to fishermen, banks told