Assistance distributed to the flood-affected in Kumaramangalam
TIRUCHENGODE: Self-help group (SHG) members trained in various vocational trades can avail themselves of loans for starting enterprises from the banks, Collector V.M. Xavier Chrisso Nayagam said.
He was speaking at a function organised by the Indian Bank to distribute assistance to the flood-affected people in Kumaramangalam village near here on Tuesday. Banks were extending flexible loans to the SHGs to improve their socio-economic condition. People affected in the recent rain in the village could avail themselves of housing from the Tamil Nadu Slum Clearance Board.
They had to pay an initial sum of Rs. 1,000 and the rest of the amount could be paid in instalments after allotment. Later, he distributed bedspreads and rice sponsored by the Bank to 61 flood-affected members of various SHGs.
Assistant General Manager of the Bank, Salem circle A.K. Narayanan said the Bank would advance up to Rs. 5 lakhs to an SHG for enterprising activities.
Lead Bank Manager G. Uthamalingam, Manager of the bank's Namakkal branch M. Balakrishnan and Project Officer of Mahalir Thittam E. Palanisamy were present in the function.