The Hindu : Tamil Nadu / Chennai News : 62,000 SHGs given subsidy so far: Stalin

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Wednesday, Aug 20, 2008
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Tamil Nadu

Tamil Nadu - Chennai

62,000 SHGs given subsidy so far: Stalin

Special Correspondent

Distributes a total of Rs. 2.5 crore to 2,500 SHGs based in Chennai

— Photo:K.Pichumani

WARM WELCOME: Local Administration Minister M.K.Stalin arriving at the Madras University auditorium to distribute revolving fund to SHGs in Chennai on Tuesday. Ashok Vardhan Shetty, Secretary, Rural Development, is in the picture.

CHENNAI: The Dravida Munnetra Kazhagam (DMK) government has so far given subsidy under the Revolving Fund to 62,000 self-help groups, Local Administration Minister M.K. Stalin said here on Tuesday.

In the last two years, 30,000 SHGs were covered. “In the current year, we have given the subsidy to 32,000 groups, the Minister told a function to mark the distribution of the assistance to Chennai-based women SHGs.

Stating that it was the DMK regime that decided to provide the subsidy to urban SHGs also, Mr. Stalin said during 2006-2007 and 2007-2008, 5000 and 25,000 urban SHGs were given Rs. 10,000 each.

At the function, he distributed revolving fund for a total sum of Rs. 2.5 crore to 2,500 SHGs based in Chennai. In addition, the groups were also provided bank loans amounting to Rs. 24.86 crore. Representatives of several banks including M.S. Sundararajan, Chairman and Managing Director of Indian Bank, were honoured for their assistance to the groups.

Commending women members of the groups for carrying on the SHG movement in the State, Mr. Stalin said there were 3.67 lakh groups of which 1.07 lakhs were functioning in urban areas. All the SHGs in the State had achieved savings to the tune of Rs. 1,826 crore. The Minister said Mr. Sundararajan had told him that the rate of loan repayment of women SHGs was 99 per cent. The bank chief was hopeful that even in the case of the remaining one per cent, members would eventually repay the loans. Giving an account of the government’s various welfare schemes for women, the Minister said the number of beneficiaries under the marriage assistance scheme for women was 40,780 and the amount disbursed to them was about Rs. 61 crore.

M. Subramanian, Chennai Mayor, commended Mr. Stalin for his sustained interest in the welfare of women SHGs. K. Ashok Vardhan Shetty, Principal Secretary (Rural Development), and Rajesh Lakhoni, Chennai Corporation Commissioner, took part.

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