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Loans given to urban poor

Staff Reporter

— Photo: S. James

HELP: Collector S.S. Jawahar handing over assistance to a woman in the city. M. Kathiresan (right), Circle Head, Indian Bank, is seen.

MADURAI: Indian Bank disbursed subsidised housing loans to urban poor in the district recently under the ‘Basic services to urban poor’ scheme.

Under this scheme, the beneficiaries are given loans with a differential rate of interest of 4 per cent. The urban poor would get a loan of Rs. 20,000 with a subsidy component of Rs. 64,400.

With 366 beneficiaries covered by eight branches in the district, Indian Bank had given maximum number of loans under this scheme, according to a bank press release.

The loans were distributed to beneficiaries by Collector S.S. Jawahar at a function held at TVS Nagar.

Indian Bank Circle Head M. Kathiresan; Corporation Commissioner D.J. Dinakkaren; and Mayor G. Thenmozhi, spoke.

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