Tamil Nadu - Madurai   

Credit counselling centre opened

Credible advice:Collector C. Kamaraj handing over general credit card to a woman in the city on Friday.

MADURAI: In a bid to educate common man about various loan products offered by public sector banks and to offer an alternative for high-interest loans, ‘Amulya,' Financial Literacy and Credit Counselling Centre (FLCCC), was inaugurated by Collector C. Kamaraj at a premises opposite the Anna bus stand here on Friday

Mr. Kamaraj said that borrowers, particularly those from rural areas, get themselves trapped in loans with high interest rate. To educate them and provide a solution, the centre would play a catalyst role. They could also plan their financial requirements and seek loans required to meet their demands.

There were complaints of suicide attempts by people owing to rising debts. They could find relief through this centre, Mr. Kamaraj said and lauded the efforts of the Reserve Bank of India for its efforts in this connection.

Shankar Narayan, Assistant General Manager, National Bank for Agriculture and Rural Development (NABARD), said that this was the fifth such facility for the district. The idea of establishing such a centre was primarily to create an awareness of various products available with banks. The prospective borrowers could avoid middlemen and seek assistance from the trained executives at the centre. He also gave an outline about the assistance offered by the NABARD and the features of a toll-free system.

Mr. Kamaraj distributed general purpose credit cards to a large number of women beneficiaries.

Canara Bank Deputy General Manager B.R. Balasunder expressed hope that the centre would be of much use to the people. He thanked the Collector for providing the space for establishing the centre.

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