The Hindu : Tamil Nadu News : Rs. 1,191.53-crore loan for priority sector

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Sunday, Jul 27, 2008
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Tamil Nadu

Tamil Nadu

Rs. 1,191.53-crore loan for priority sector

Under the annual credit plan for Virudhunagar district

Service sector has been sanctioned Rs. 244.40 crore
Rs.53.70 lakh for revolving fund assistance to 537 self-help groups

VIRUDHUNAGAR: Virudhunagar district would get Rs. 1,191.53 crore as loan for priority sector under the annual credit plan for the year 2008-09.

Reviewing the performance of bankers here on Saturday, Collector V. Chandrasekaran said that Rs. 425.47 crore would be allocated for farm and farm-related activities and Rs. 521.66 crore for non-farm loans. The service sector would get Rs. 244.40 crore.

Among the Rs. 1,191.53 crore priority sector loan, Rs. 902.73 crore would come from commercial banks, while Rs. 183.33 crore from regional banks and Rs. 105.47 crore from cooperative banks. The priority sector loan for the current year is Rs. 90.93 crore more than that of the previous year.

A total of Rs.53.70 lakh allocation has been made for the revolving fund assistance to 537 self-help groups under the Golden Jubilee Rural Employment Scheme. However, the banks had provided revolving fund assistance to 506 SHGs to the tune of Rs. 126.50 lakh loan, the Collector said in a statement.

A total of Rs. 175.30 lakh subsidy had been released for 175 SHGs to start trade ventures. A total of 9,725 SHGs, out of 9,982 SHGs functioning under the Mahalir Thittam, have been qualified for availing loans. Out of them, so far, 9,690 groups received bank loans.

During the current fiscal, 1,080 credit cards had been issued to farmers, through which Rs. 741.85 lakh-loan distributed.

The Collector advised the bankers to disburse educational loan without any delay to eligible students pursuing higher education. Chief Regional Manager of IOB G. Venugopal, RBI Manager Sankar and District Lead Bank Manager Sugumar, and Project Officer of Mahalir Thittam N. Savithiri were present.

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