The Hindu : Tamil Nadu News : Indian Bank to extend Rs. 39-cr. loan to SHGs

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Monday, Jun 14, 2010
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Tamil Nadu

Tamil Nadu

Indian Bank to extend Rs. 39-cr. loan to SHGs

Staff Reporter

KRISHNAGIRI: Indian Bank, the Lead District Bank in Krishnagiri and Dharmapuri districts, has decided to extend Rs. 39-crore loan to women Self-Help Groups attached to the Krishnagiri-based NGO, the Integrated Village Development Programme (IVDP), for the fiscal 2010-11.

This has been decided at an action plan meeting held at the headquarters of the IVDP in Krishnagiri on Friday, said Kulandai Francis, Director, IVDP. The bank would extend loan to the SHGs through IVDP.

S. Sadagopan, Deputy General Manager, Dharmapuri Circle, said that the loan would be extended through five of its branches in Varatanapalli, Barur in Krishnagiri district and Karimangalam and Dharmapuri branches in Dharmapuri district and Natrampalli branch in Vellore district.

Varattanapalli branch would disburse Rs. 12 crore; Barur Rs. 3 crore; Karimangalam Rs. 15 crore; Dharmapuri Rs. 5 crore and Natrampalli Rs. 4 crore.

Mr. Kulandai Francis explained the functioning of the organisation.

Branch managers R. Thirumavalavan, Krishnagiri and D. Bama, Dharmapuri, Heads of SHGs and other officials of the IVDP participated in the meeting, a release from IVDP said.

The release also said that the Salem-based Pallavan Grama Bank had decided to lend Rs. 100 crore through nine of its branches.

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