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Recovery rate from SHGs high

Recovery from SHGs that were extended loan from the microfinance branch of the Indian Bank was 99 per cent, branch manager Savita Rani Gupta has said. The first anniversary fete of the branch was inaugurated by bank executive director A. Subramanian. Mr. Subramanian said that SHG members could get loans at rates that were lower than charged by private money-lenders. Circle head V. Nageswara Rao spoke. The executive director disbursed Rs. 62 lakhs to members of 40 different SHGs on the occasion.

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Andhra Pradesh

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