Kerala - Thiruvananthapuram   

Micro-finance part of reforms, says Antony

Thiruvananthapuram: Defence Minister A.K. Antony, on Monday, said the promotion of micro-finance sector by the United Progressive Alliance marked the second stage of bank reforms in the country, addressing the financial requirements of all sections of people.

Inaugurating the Janasree Sustainable Mission's micro-finance company and the fourth anniversary of the organisation, Mr. Antony said the first bank reforms were taken up by Indira Gandhi, with the nationalisation of banks. Till then, capital was in the hands of a few, but this changed with nationalisation. Today, micro-finance units were handling more than Rs.1,000 crore, making available credit to small businesses, farmers and traders, he said. Mr. Antony, however, advised caution to the organisers of Janasree in handling funds.

“There should be proper accounting systems and funds should be carefully handled. Otherwise one could burn one's fingers. There could be health problems in an organisation that grows at a fast pace,” he said.

Mr. Antony said the Kudumbasree, which was launched by the UDF government, could generate many opportunities in the State's service sector. Both Kudumbasree and Janasree would be amply supported once the UDF was at the helm, he said.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Micro-finance initiative part of bank reforms, says Antony
Micro-finance part of reforms, says Antony
New rule for reserving numbers
Eco expert flays Mani's stand on Plachimada tribunal
Ready for probe against son: VS
BJP march concludes
KPCC: Karat must intervene for probe
Doctors' strike from today
Palmolein case: State seeks further inquiry
Mission to ensure aid to physically challenged
Fund for road repairs
Contours emerge for dance museum

Copyright © 2011, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu