The Hindu : Tamil Nadu News : Bank to float youth SHGs

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Monday, Jan 05, 2009
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Tamil Nadu

Tamil Nadu

Bank to float youth SHGs

Staff Reporter

PUDUKOTTAI: Innovation in credit formula seems to be the watchword for bank officials. A rural branch of Canara Bank in the Annavasal block in the district has been forming exclusive youth self-help groups, proficient in computer literacy, for sanctioning loans to set up browsing centres for their vocation.

Encouraged by its maiden effort in sanctioning loans to two youths for purchasing a computer, the branch in Mukkanamalaipatti has intensified its initiative for sanctioning similar loans to a large number of youths in its service area.

“The training in computer literacy being imparted by the Village Knowledge Centres of the M.S. Swaminathan Research Foundation in Annavasal block has come in handy for the bank to identify the eligible youths,” says branch manager S. Krishnan talking to The Hindu on the sidelines of a function to mark a loan mela organised by the bank in the village recently.

Beneficiaries

Rural youths, who have studied up to Plus Two course and are idling at home, are the largest beneficiaries of the innovative programme, he pointed out.

The groups are being formed in co-ordination with a non-governmental organisation, GVN Trust in Annavasal in parts of the block. So far, seven SHGs, each comprising of 10 members, had been floated. About 30 members of these groups are women.

Kudos

The bank’s effort in extending a helping hand to the youths came in for a pat at the function.

Mukkanamalaipatti village panchayat president Regina Hyder Ali, founder of Trust S. Subramanian and Block Co-ordinator, Sarva Siksha Abhiyan, Annavasal, Sheik Mohamad said that the bank’s innovative efforts would go a long way in empowering the youths through self-employment.

Loans for 50 SHGs

In all, about 1,000 women members of 50 SHGs got loans to the tune of Rs.54.60 lakh at the ‘mela.’ Mr. Krishnan gave away the pass-books to the beneficiaries on the occasion.

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