 Online edition of India's National Newspaper Tuesday, Feb 22, 2011 ePaper | Mobile/PDA Version |
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Tamil Nadu
KARUR: Taking cognizance of the complaints from women in Karur district regarding harassment by private financiers, who lure them with low interest loans, District Collector J.Uma Maheswari has cautioned people, especially rural women, against borrowing from private moneylenders. Several women who have borrowed from private money lenders were struggling to repay their debts. It has come to notice that some non-banking private institutions have been charging a high rate of interest thereby forcing the borrowers to keep on repaying the loan. When the women were not able to repay the loan in time the whole family had to endure hardship, the Collector has noted. To ensure the social and economical development of women the Tamil Nadu, Women's Development Corporation has been striving to implement several schemes including credit facilitation through establishing linkages with banks. Revolving Fund for self help groups, loans for economic activity, direct lending, large loans for panchayat level federation of SHGs, were some of the facilities being extended to the SHGs. During 2010-11, a sum of Rs. 6.66 crore has been disbursed to 110 SHGs at the rate of Rs.60,000 each with a subsidy component of Rs.10,000 as revolving fund. About Rs.6.36 crore has been granted to 159 SHGs as loans through banks for carrying out economic development activities. In the current fiscal, a total of 3,695 groups have been sanctioned Rs.55 crore as direct loans with very low rate of interest. Five panchayat level federations have been sanctioned Rs.82 lakh, Dr.Uma Maheswari has noted. Falling prey There have been cases of some gullible women falling prey to unscrupulous elements and private money lenders who promised low rate of interest, high credit amount and easy repayments. But they have been duped into repaying much more than they had borrowed pushing their families into peril. The Collector has cautioned people not to fall prey to those elements and borrow only from banks to avoid the pitfalls of debt-trap. Those women who have not joined the SHG movement could join the Mahalir Thittam sponsored groups to avail all benefits, Dr. Uma Maheswari said in an official press release issued here on Monday.
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