The Hindu : Tamil Nadu News : Rs.1 crore allotted for BCs and MBCs in Virudhunagar district

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Monday, May 19, 2008
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Tamil Nadu

Tamil Nadu

Rs.1 crore allotted for BCs and MBCs in Virudhunagar district

Staff Reporter

It will be in the form of loan for their economic development

To be given through cooperative banks
Applicants must be in the 18-60 age group

VIRUDHUNAGAR: The Tamil Nadu Backward Class Economic Development Corporation has allotted Rs. 1 crore for Virudhunagar district to provide loans to the people belonging to backward and most backward classes for their economic development.

In a statement, the Collector, V. Chandrasekaran, said that the applicant in the age group of 18 and 60 years could get loans through cooperative banks that are repayable in five years.

Only one member of the family could get the loan. The annual income of the family should be Rs. 40,000 for those in rural areas and Rs. 55,000 for urban families. Both men and women were eligible to get individual loans for setting up vegetable shops, tailoring shop, grocery shop and other small trades.

Similarly, people who have been members of self help groups for a minimum of six months could get Rs. 10,000 loan per member.

The members should approach all Primary Agriculture Cooperative Banks, Urban Cooperative Banks, and Central Cooperative banks. The District Backward Classes Officer and the Joint Registrar of Cooperatives would also receive the applications.

The Collector said that the applications should be enclosed with the following documents: copies of Community certificate and income certificate; ration card, purpose of loan, project report (for major projects), driving licence (only for purchasing vehicles) and other documents sought by the cooperative banks.

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