"Become a role model for other States"
PUDUCHERRY: Minister for Agriculture and Industries V. Vaithialingam called upon women's self-help groups to start small industries rather than just use bank loans for giving internal loans among the members.
Speaking at a function to distribute loans from State Bank of India, Agricultural Development Branch, here recently, he said the government and banks were ready to provide all assistance to SHGs.
"Over the years SHGs have become trusted institutions and get loans easily in banks because they pay back their loans on time."
He said the SHGs of Puducherry must become a role model for other States.
M. Rajendran, Regional Manager, SBI, said that the bank was ready to provide training and assistance to SHG members. He said the ADB branch had a total of 622 SHG accounts. The branch had deposits worth Rs. 156 crore and Rs. 55 crore of loans this year, he added.
Loans worth Rs. 1.69 crore were distributed to a total of 112 SHGs. Ratchagar, managing director, Pondicherry Multipurpose Service Society and Balaveni, Manager, SBI, ADB were also present .