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Bankers now keen to lend to SHGs

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WELL DONE:Managing Director of Tamil Nadu Women's Development Corporation D. Udayachandran giving away an award for best performance to Indian Overseas Bank Karur Senior Regional Manager S. Balachander.
WELL DONE:Managing Director of Tamil Nadu Women's Development Corporation D. Udayachandran giving away an award for best performance to Indian Overseas Bank Karur Senior Regional Manager S. Balachander.

Staff Reporter

Pat for Women's Development Cell in Karur district

KARUR: Tamil Nadu is blazing a trail in implementing women's development programmes, especially on the self-help group front. The performance of the groups has infused immense confidence among the bankers and they were more forthcoming in extending credit to the groups, according to Tamil Nadu Women's Development Corporation Managing Director D. Udayachandran.

Speaking after reviewing the performance of the department and distributing awards for best performing banks in Karur on Thursday, Mr. Udayachandran said that SHGs were being trained and revolving credit as well financial support for carrying on economic development activities were being provided to the groups after proper assessment, he said.

To help the groups make full and proper use of the extended grant, the SHGs were being provided training and skill enhancement exercises, Mr. Udayachandran observed.

Deputy Chief Minister M.K. Stalin has been personally monitoring the performance of the groups and seeing to it that all their economic needs were being taken care of expeditiously. That has resulted in proper and prompt credit repayment by the SHGs which in turn has enabled the banks to extend more credit, he pointed out.

Lauding the performance of the Women's Development Cell in Karur district, Mr. Udayachandran pointed out that extension of credit to SHGs, repayment of loans, enrolment of groups and the performance of the panchayat level federations have been creditable. He urged the banks to achieve the current financial year's credit disbursal targets before the end of March.

Caution

Mr. Udayachandran also had a word of caution for the voluntary organisations while forming SHGs noting that they had to ensure that the members being enrolled were not members of another existing group and to ensure that identity cards were being issued to the members, he added.

The Managing Director also gave away a shield to the Indian Overseas Bank for extending the maximum credit to SHGs in the district and Senior Regional Manager, IOB, Erode Region, S. Balachander, along with the Lead District Manager K. Chandrasekaran, received the shield on behalf of the bank.

Mr. Udayachandran also gave away a cash reward of Rs. 15,000 to the Indian Bank, Kulithalai, Rs. 10,000 to the Indian Overseas Bank, Thanthonrimalai, and Rs. 5,000 to IOB, Taragampatti, for laudable performances in extending credit to the maximum number of SHGs.

Likewise, Mr. Udayachandran gave away cheques for Rs. 4 lakh each to Amman, Devathai, Pouliamman, Karpagavinayakar and Vizhippunarchi SHGs functioning in Thanthoni panchayat union for starting economic development activities. He also gave Rs. 21 lakh for the Esanatham panchayat level federation under mega loan plan for varied activities.

Collector J. Uma Maheswari, District Revenue Officer C. Munirathinam, Project Officer, Mahalir Thittam, Rajalakshmi, Lead District Manager K. Chandrasekaran, bankers, representatives of voluntary organisations and other officials participated in the deliberations.

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