Virudhunagar Collector (in-charge) B. Ganesan on Thursday inaugurated financial literacy and credit counselling centre ‘Sneha', sponsored by the Indian Overseas Bank (IOB) here.
Addressing the gathering, Mr. Ganesan said that the banks in the district were functioning for the economic development of the people. Sneha has been set up according to the directive of the Reserve Bank of India.
A retired bank official would be appointed as the counsellor who would advise the rural people on the banking functions and products. He would also create awareness of financial management and help rehabilitation of those who suffer due to unpayable loans.
Lead bank IOB will run the centre. Regional Director of Reserve Bank of India, K.R. Ananda, IOB General Manager, S.N. Misra, Regional Manager, K.V. Krishnan, Assistant General Manager, T.S. Ramasamy and Lead Bank Manager, V.A. Sugumar, were among those who were present.