The Hindu : Tamil Nadu / Tiruchi News : 1,000 women open savings account

Online edition of India's National Newspaper
Saturday, Aug 25, 2007
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Tamil Nadu

Tamil Nadu - Tiruchi

1,000 women open savings account

Special Correspondent

Scheme launched by Canara Bank, NGO
Bank to sanction education loans

TIRUCHI: It was a great opportunity for about 1,000 women of Manikandam and Andanallur blocks in the district to open savings account with the Canara Bank.

Called ‘Nofrill savings bank account’, the scheme was launched jointly by Self Help Promotion for Health and Rural Development (SHEPHERD), an NGO and the Teppakkulam branch of the Canara Bank.

The objective of the scheme is to facilitate every economically poor woman to open a savings account and to encourage them to develop the habit of saving. Loans for taking up economic activities and income generation vocations will also be sanctioned.

A special feature of the programme is the extension of insurance claim on life, health and assets, besides eligibility for micro pension.

Deputy General Manager of Canara Bank, Tiruchi, circle, S. Nagarajan distributed passbooks to the women, members of Surabhi, a self-help group promoted by SHEPHERD. He assured all assistance to them.

Explaining the success of this scheme, Mr. Nagarajan said more than 90 per cent of the women of were prompt in the repayment of loans sanctioned by the bank. The bank would sanction education loans to the needy and called upon the deserving youth to take full advantage of the facility.

Assistant General Manager, Canara Bank, Annamalai explained the initiative taken by the bank for the economic uplift of the weaker sections.

Secretary-general, SHEPHERD, N. Peter Palaniswami pleaded with the bank to take immediate steps for providing ATM cards to the account holders.

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