The Hindu : Tamil Nadu News : Loan mela held

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Friday, Nov 27, 2009
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Tamil Nadu

Tamil Nadu

Loan mela held

Staff Reporter

MAYILADUTURAI: The loan mela organised by the Indian Overseas Bank here on Wednesday saw disbursement of loans to the tune of Rs.38,317 crore to over 654 people.

This included education loans for over 135 people, loans for 83 self-help hroups, loans for over 217 farmers, loans for about 30 people for horticultural vegetation in urban locales, and tractor loans for over 14 persons.

House loan assistance

Further, under the Indira Awaas Yojana, loan assistance for houses would be provided to over 5,000 people for the current year.

Under the scheme, IOB provided loans to the tune of Rs.13.6 lakh that included a loan amount of Rs.20,000 per head to over 72 people at an interest rate of 4 per cent . Similarly, houses under IAY in the district would be eligible for a loan of Rs.20,000.

Speaking on the occasion, Collector C. Munianathan stated that over 300 million children were born malnourished.

Of them, over 83 million were born in India. Under these circumstances, horticultural crops and vegetables were the greatest source of food security, he said.

It was laudable that IOB was lending Rs.10,000 per head for horticultural cropping practices.

Further, families in urban centres should avail of the facilities for creating organic horticultural gardens to ensure food security of their families, he said.

R.Muthusamy, Chief Regional Manager, IOB stated that interest rates would be reduced by one per cent for those customers as an incentive for timely repayment of loans secured during the current year.

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