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Stipend scheme will benefit 15 lakh minority students

Staff Reporter

Chidambaram wants more acres of paddy under insurance


Scheme meant to help minority students pursue higher education

Government keen on establishing more branches in uncovered areas




HELPING THE NEEDY: Union Finance Minister P. Chidambaram handing over a cheque to a student for pursuing higher studies at a function at Kalaiyarkoil in Sivaganga district on Sunday. Hindu Religious and Charitable Endowments Minister K.R. Periakaruppan and S.A. Bhat, Chairman, Indian Overseas Bank, are in the picture.

SIVAGANGA: The Centre has allotted Rs.1,530 crore for providing stipends to students of the minority communities, Union Finance Minister P. Chidambaram said on Sunday.

Inaugurating the 1,869th branch of Indian Overseas Bank at Kalaiyarkoil near here, he said the scheme, meant to encourage students to pursue higher studies, would benefit 15 lakh people in the next five years.

Mr. Chidambaram said the last date for insuring paddy crop under the National Agricultural Insurance Scheme had been extended from November 30 to December 15. He issued the order two days ago, at the request of the State Government and farmers. Since six days were left for the deadline, officials should bring as many acres of paddy as possible under the insurance cover.

Though there were around 70,000 branches of various banks in the country, the Government was keen on establishing more branches in the uncovered areas to enable the people to open accounts, thus helping them join the mainstream of growth.

Highlighting the IOB’s contribution to nation-building, Mr. Chidambaram said the volume of transaction had crossed Rs.1.29 lakh crore, more than the budget of various States.

Minister for Hindu Religious and Charitable Endowments K.R. Periakaruppan said the State and Central Governments had been implementing various schemes for the welfare of the people and the development of the nation.

Priority for growth

S.A. Bhat, Chairman and Managing Director, IOB, said the bank would continue according priority to the schemes for uplift of weaker sections. The new branch was brought under the Core Banking Solution network.

Collector Pankaj Kumar Bansal and MLAs S. Gunasekaran and N. Sundaram spoke.

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