PUDUKOTTAI: Pandyan Grama Bank, the regional rural bank of the Indian Overseas Bank, has registered a record achievement of zero non-performing assets (NPAs) for the past five years, its Chairman E. Sundararaju, said here.
Speaking on the sidelines of the inaugural of the bank’s branch on Keezha Raja Veethi here on Thursday, Mr. Sundararaju said that the bank has earned laurels through prompt repayment of dues by the borrowers.
The Bank has distributed Kisan Credit Cards to 19,730 farmers and loans had been disbursed to the tune of Rs.36.4 crore during the last financial year.
The bank’s latest deposits as on September 21, stood at Rs.1,404 crore and the advances, Rs.1,155 crore.
The Union Minister of State for Environment and Forests, S. Regupathy, declared open the branch and distributed loans to the tune of Rs.6 lakh to women members of 11 self-help groups.
The District Collector S. J. Chiru was among those who were present.
Fourth branch
The Area Manager K.R. Krishnan said that this was the 175th branch and fourth in Pudukottai district. The bank’s three branches in the district were located in Rayavaram, Ponapattu and Tirumayam villages.
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