The Hindu : Tamil Nadu / Chennai News : Barnala distributes fresh loans to SHGs

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Sunday, Oct 12, 2008
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Tamil Nadu

Tamil Nadu - Chennai

Barnala distributes fresh loans to SHGs

Staff Reporter

— Photo: S.R.Raghunathan

GIVING SUPPORT: Governor Surjit Singh Barnala handing over cheques to SHG members at a function organised at Raj Bhavan on Friday.

CHENNAI: Governor Surjit Singh Barnala on Friday distributed Rs.13 lakh in fresh loans to self-help group members associated with Bestnora, a non-governmental organisation, who promptly repaid the loans in the previous years.

At a function organised at Raj Bhavan, Mr. Barnala said: “The self-help groups in Tamil Nadu are doing a commendable work.”

He pointed out that the availability of loans for SHGs, and their prompt repayment, indicated the hard work done by these groups.

“The efficient leadership of the NGOs, and the teamwork of SHGs associated with them, are responsible for the successful functioning of the business ventures funded by microfinance institutions and banks,” said G. Vijayaraghavan, Senior Manager, Indian Overseas Bank, Rangarajapuram.

“The repayment of loan given to SHGs is 100 per cent.”

The T. Nagar Cooperative Bank lent Rs.10 lakh in loan to five women SHGs and IOB, Rangarajapuram, Rs. 3 lakh to two SHGs.

A 30-year-old member of one of the SHGs involved in tailoring, D. Sumathi says: “I feel empowered after joining the SHG.”

“The women have got a 50 per cent increase in income after joining SHGs,” said Saraswathi Murugan, general secretary, Bestnora.

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