Gone were the days when many banks apprehended to advance loans to the self-help-groups fearing their repayment capacities, said Adi Dravida Welfare Minister A. Tamilarasi here on Sunday.

Speaking at a function to hand over loan cheques to the tune of Rs.6 crore to women SHGs, the Minister said that today banks vied with one another to advance loans to the SHGs. The mindboggling figures of the SHGs and the borrowings/repayments reflected they (women SHGs) are a formidable force.

The manner in which leading public sector banks opened exclusive branches and cells, to cater to the needs of the SHGs is a point to be noted by the captains of the industry, Ms. Tamilarasi said and thanked Chief Minister M. Karunanidhi and Union Minister M.K. Alagiri for extending full support in providing all assistance to the womenfolk, especially, those below the poverty line. Offering felicitations, Madurai East MLA N. Nanmaran said that revolving funds issued to women should keep revolving only then it would benefit others seeking loans.

Canara Bank Deputy General Manager Balasunder said that the bank had surpassed its targets in the Madurai circle level in advancing loans to the SHG sector.

NABARD Assistant General Manager R. Shankar Narayan said that despite recession, savings remained strong due to the SHGs movement.

The performance of SHGs had impressed many outside Tamil Nadu, that people keenly watched the results. District Rural Development Agency Project Officer V. Pitchai said that the government had an exclusive department for women development which showed its commitment to the sector.

Lead Bank Manager Subramanian, Public Relations Officer S. Saravanan participated. Earlier, Mahalir Thittam Project Officer A. Thangavel welcomed the gathering.

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