TIRUVANNAMALAI: Tiruvannamalai Collector Satyabrata Sahoo distributed loans to the tune of Rs.1.5 crore on behalf of the State Bank of India, Tiruvannamalai branch, to 72 self-help groups (SHGs) at a function here on Thursday. It was organised by the bank and Shanthimalai Research and Development Trust on the premises of the trust.
Mr. Sahoo told the SHGs to take up agriculture or small industries, depending on their ability and inclination, to ensure the quality of products and services. There are about 18,000 to 20,000 SHGs in Tiruvannamalai district, comprising 13,434 women SHGs sponsored by the district administration, besides special SHGs (comprising men and women) and SHGs promoted by non-governmental organisations.
The savings of these SHGs touched Rs.32.53 crore and the SBI, the Indian Bank, the National Bank for Agriculture and Rural Development (NABARD) and other banks have together advanced loans to the tune of Rs.90 crore to the SHGs, Mr. Sahoo said. Repayment is very prompt and the credit should go entirely to the SHGs, he added.
The quality of the products made by women’s SHGs in interior villages was very good and this has motivated the banks to go in search of SHGs and give loans to them.
Suresh Johnson, Assistant General Manager (AGM), SBI, Tiruvannamalai, welcomed the gathering.
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