The Hindu : Tamil Nadu News : ‘Bank nationalisation improved economy'

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Tamil Nadu

Tamil Nadu

‘Bank nationalisation improved economy'

Special Correspondent

Renovated State Bank of India branch opened at Nannilam

reaching out:M.Chandrasekaran, Collector, giving a loan cheque to a customer at the State Bank of India office at Nannilam on Friday.

TIRUVARUR: Nationalisation of banks has helped in improving the economy in rural areas, said M. Chandrasekaran, District Collector, at Nannilam on Friday.

He declared open the renovated branch of State Bank of India (SBI) in Nannilam.

The branch has been renovated at a cost of Rs. 20 lakh.

The Collector said banks played an important role in the life of people.

“There was a time when people went in search of bank branches to get loans. Now banks are going to people and providing them credit,” the Collector said. They inculcate the habit of thrift among them.

The SBI received an award last year for its services to women self help groups in the district.

The State Bank of India has 13 out of the 106 nationalised bank branches in the district.

Annual credit plan

The annual credit plan for the district by nationalised banks is Rs.781 crore.The share of SBI in this is Rs.159 crore.

Mr. Chandrasekaran distributed loans to the tune of Rs. 10 lakh to 30 customers of the bank on the occasion.

M.Manimaran, Chairman, Nannilam Panchayat Union, Joseph Chandrakumar and Pandiyaraj, Assistant General Managers of SBI, Pugazhendhi, Branch Manager, participated in the function.

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