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SHGs told to save and reap benefits

Staff Reporter

ADILABAD: Chairman of Deccan Grameena Bank (DGB) S.V. Hanumantha Rao on Wednesday urged self-help groups (SHG) to increased their savings to get increased funds from banks. He said the DGB gave financial assistance at the rate of 10 times of the savings made by the concerned SHGs.

Inaugurating the new premises of the Madhapur branch of DGB in Nirmal mandal, the chairman said the DGB will extend loans in areas like education, rural housing etc. He launched the general credit card for farmers who had a three-year business relationship with the bank. Farmers can avail supplementary loans to a maximum of 20 per cent of the loan amount drawn during the year without any additional security.

528 beneficiaries were extended loans worth Rs. 55 lakhs on the occasion. Six two wheelers and one tractor were also given away to beneficiaries. Bank's General Manager M. Ramesh and Area Manager G. Suresh Reddy also attended.

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