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Tamil Nadu
Pandyan Grama Bank opens its account in Nagapattinam
Special Correspondent
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It is the 184th branch for the Virudhunagar based institution
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NAGAPATTINAM: The Pandyan Grama Bank, has opened its 184th branch in the State and the first branch here in Nagapattinam district on Wednesday.
The District Collector, Tenkasi S. Jawahar, who inaugurated the bank, said that 500 Uzhavar Mandrams would be formed in the district this year to guide the farmers to know the latest farming techniques and to improve agricultural productivity.
The Collector said that the bank had been rendering service to the society, particularly farmers, women self-help groups by advancing them loans, etc. He pointed out that the bank had proposed to open 12 more branches in the district next year.
The Chairman of the Pandyan Grama Bank, E. Sundararaju said that the bank was started in 1977 and have its headquarters at Virudhunagar. He pointed out that the bank had been serving the people through its 183 branches in the last 31 years in 13 districts of Tirunelveli, Tuticorin, Virudhunagar, Sivagangai, Ramanathapuram, Madurai, Pudukottai, Dindigul, Kanyakumari, Tiruvarur, Thanjavur, Tiruchi and Theni.
He said that the bank had been earning profit and pointed out that the credit-deposit ratio was 101 per cent and the bank had advanced Rs.1,312 crore till February this year. The chairman said that the total deposit of the bank had crossed Rs.2,400 crore.
Mr. Sundararaju said that the bank had been extending financial assistance to the women SHGs and pointed out that the bank had secured the first position in Tamil Nadu for the eighth consecutive year this year by advancing loans to the tune of Rs.73 crore to 7,383 women SHGs. Similarly, the bank had issued farm loan cards to 21,980 farmers and advanced Rs.40 crore for agricultural activities.
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