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“Pandyan Grama Bank continues to earn profit”

Special Correspondent
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BENEFICIAL:Virudhunagar Collector T.N. Hariharan handing over assistance to transgenders at the opening of a new branch of Pandyan Grama Bank at Soolakarai on Wednesday.
BENEFICIAL:Virudhunagar Collector T.N. Hariharan handing over assistance to transgenders at the opening of a new branch of Pandyan Grama Bank at Soolakarai on Wednesday.

: The business mix of Pandyan Grama Bank has crossed of Rs. 6,294 crore and was continuously earning profit, its Chairman, M. Xavier Thilagaraj, said.

Addressing a function organised to mark the opening of the bank’s 217{+t}{+h}branch here on Wednesday, he said that the bank had extended loans to the tune of Rs.2,318 crore so far in this financial year as against Rs.4,058 crore advances given last year.

During the inauguration, the Collector, T.N. Hariharan, handed over Rs.34.65-lakh loans to various people, including Rs. 10 lakh to transgenders. A large number of the poor have been relieved of their burden of high-rated debts by the credit assistance from the bank, he said. The bank stood first in the district in credit linking self help groups (SHGs). During this financial year, 858 SHGs had been credit linked with an amount of Rs. 10.89 crore, a statement said.

The bank has introduced a joint liability group loan scheme for extending hassle-free credit to the mid-segment clients and gave loans to 127 groups to the tune of Rs. 2.19 crore in the current financial year. All the 217 branches of the bank have core banking solution with NEFT facility. No charges are levied for NEFT transactions up to Rs. 10,000.

General Managers of the bank, V. Chidambaran, AL. Ramanathan, and Regional Manager, R. Nedunchezhian, were among those who were present.

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