The Hindu : Tamil Nadu News : State setting example to nation in SHG scheme: Stalin

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Monday, Oct 20, 2008
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Tamil Nadu

Tamil Nadu

State setting example to nation in SHG scheme: Stalin

Staff Reporter

Distributes revolving fund to 2,507 SHGs

— Photo: DIPR

EXTENDING HELP: Local Administration Minister M.K. Stalin at a women’s self-help group exhibition in Tiruvannamalai on Sunday.

Tiruvannamalai: Local Administration Minister M.K. Stalin on Sunday distributed revolving fund of Rs. 50,000 each to 2,507 self-help groups in the district at a function here on Sunday.

Distributing bank pass books for the amount credited to representatives of the 2507 SHGs, Mr. Stalin said Tamil Nadu was setting an example to the nation in the SHG programme.

To support his point, the Minister cited a statistics from Indian Bank which showed that the bank had disbursed loans to 2.57 lakh SHGs to the tune of Rs.1,827 crore throughout the nation until June 2008. Of this, 1.46 lakh SHGs, which received a total loan of Rs.1058 crore, were operating in Tamil Nadu, he said.

“We do all this not for self promotion but for achieving self reliance of women. To achieve self reliance, women need to take small and tiny ventures in their areas. The capital is being provided as loan by nationalised banks through SHGs. Bankers say that repayment rate of loans by SHGs is good,” Mr. Stalin said.

Out of Rs.50,000 revolving fund, Rs.10,000 has been given as government subsidy and the remaining as bank loan.

Mr. Stalin also declared open 178 buildings and other works in different parts of the district. Food minister E.V. Velu presided.

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