The Hindu : Tamil Nadu / Nagapattinam News : Link all self-help groups and extend loan: Collector

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Friday, May 20, 2005

Tamil Nadu

Tamil Nadu - Nagapattinam

Link all self-help groups and extend loan: Collector

Staff Reporter

Commercial banks asked to treble financial assistance to SHGs

NAGAPATTINAM: Commercial banks should make efforts to link all women self help groups (SHGs) in the district and provide loan to them for carrying out economic activity, said the Collector, J. Radhakrishnan, here on Thursday.

Presiding over the first District Consultative Committee meeting of bankers for the current year (2005-2006) organised by the Indian Overseas Bank, the lead bank of the district, the Collector said that under the SHG direct linkage programme, 6,374 groups out of 6,443 eligible groups were provided with linkages to the tune of Rs.40.40 crores. The banks have provided a revolving fund assistance of Rs.1.61 crores to 424 groups and an economic assistance of Rs.5.73 crores to 153 groups, he said.

The Collector pointed out that in the year of International Year of Micro Finance, the disbursement of loans should be trebled by banks so that the loan component per SHG would go up to Rs. 2 lakhs.

He said that 1,383 SHGs that had completed the mandatory period of six months in the district were still not graded.

Mr. Radhakrishnan appealed to the banks to pay more attention to the Tamil Nadu Adi Dravidar Housing Development Corporation's (TAHDCO) land purchase scheme, one of the important schemes of the Government for upliftment of the poor from the SC and ST community. The district administration will provide all assistance required not only for granting of loans but also for recovery of loans by arranging a special drive, he said.

The Collector told the bankers to provide loans to the fishermen for repairing old boats and for making of new boats under the Rajiv Gandhi Rehabilitation Package (RGRP) scheme. He said that under the RGRP the banks had received and sanctioned loans to the tune of Rs.21.88 crores for 336 applicants.

T.S. Sarguna Pandiyan, Chief Regional Manager, IOB, Nagapattinam, in his address assured the district administration that all banks would take quick steps for providing loans to fishermen under the RGRP.

He said that the deposits of all commercial banks in the district stood at Rs.1,473.50 crores with an advance of Rs.928.30 crores. The credit-deposit (CD) ratio of the district is 63 per cent. The total priority sector advances stood at Rs.771.95 crores and agricultural sector received Rs.355.79 crores, he added.

P. Thangaraj, AGM, Reserve Bank, Chennai, reviewed the performance of banks in key banking parameters.

K. Palanisamy, Assistant General Manager, National Bank for Agriculture and Rural Development, Nagapattinam, emphasised the need to provide term loans under agriculture for capital formation. The DCC meeting was attended by top officials from Mahalir Thittam, TAHDCO, District Industries Centre, district coordinators of various banks and NGOs. S.Vijayakumar, Lead District Manager, proposed a vote of thanks.

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