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Tamil Nadu
Helping hand: M.K. Narayanan, Executive Director of Indian Overseas Bank, distributes certificates for loan waiver to beneficiaries at Thookkanampakkam in Cuddalore on Thursday. — CUDDALORE: Indian Overseas Bank has set apart Rs. 1,100 crore towards the farm debt waiver scheme and of this, about Rs. 750 crore to Rs. 800 crore would be earmarked for Tamil Nadu, according to M.K. Narayanan, Executive Director of the bank. Mr. Narayanan told The Hindu that the IOB had already prepared a list of beneficiaries, including small and marginal farmers and others, which was awaiting Centre’s clearance. Explaining the term “others,” Mr. Narayanan said they were farmers who did not belong to the small and marginal categories. They had to repay 70 per cent of the loans in three instalments while the government would bear 25 per cent of the obligations. Mr. Narayanan, who is also chairman of the State-level special steering committee of bankers, visited Thookkanampakkam, 25 km from here, on Thursday to distribute no-debt certificates and also sanction fresh loans to farmers and women self-help groups. He said the IOB had launched the “Sampoorna” scheme, on the model of the PURA (Providing urban amenities in the rural areas) concept propagated by former President A.P.J. Abdul Kalam, at Koothapakkam near Chennai and at Kameswar Nagar in Nagapattinam. It would soon be extended to Thirukkuvalai, he said. The scheme, to be implemented through the respective bank branches and non-governmental organisations, would focus on the overall development of the villages, including infrastructure, sanitation, health and education. It would also encourage self-help ventures that made use of locally available materials. Mr. Narayanan said that spouses of bank officials would also be involved in such ventures, who would make periodical visit to villages, once or twice a week, to motivate the rural people. Earlier, Mr. Narayanan handed over no-debt certificates and commitment to fresh loans to 506 small and marginal farmers to the tune of Rs 71.12 lakh. He also gave away loans to SHGs and handed over general credit cards to beneficiaries of the National Rural Employment Guarantee Scheme. He said women SHGs enjoyed credit-worthiness because 90 per cent of them promptly repaid bank loans. Prompt repayment alone would enable the banks to issue loans to their other needy counterparts. Chief Regional Manager Geeta P. Shetti, Cuddalore district coordinator R. Santanagopalan, Thookkanampakkam branch manager P. Ravichandran participated.
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