Special Correspondent

CHENNAI: Information Minister Parithi Ilamvazhuthi on Saturday inaugurated ‘Vettriku Vazhi-Suya Thozil,’ a business idea contest promoted by Bharatiya Yuva Shakthi Trust and Indian Bank and sponsored by MARG.

He promised that the government would be willing to provide any assistance to the BYST’s project. The plan is to tap the creative and innovative business ideas of potential young entrepreneurs in Chennai and Kancheepuram, said Lakshmi V. Venkatesan, founding trustee and executive vice-president, BYST.

People in the age group of 18-35 are eligible to take part in the contest. The best three ideas will be awarded, and all viable business ideas will get financial support, with a host of business-related services. The last date for submitting application forms is November 15. For further details, email byst.chennai@ciionline.org; www.bystonline.org.

Ms. Venkatesan said the BYST had created jobs for 15,000 people and generated wealth of Rs. 60 crore.

Indian Bank Chairman M.S. Sundera Rajan announced that the bank would increase the loan from Rs. 5 lakh to Rs. 50 lakh.