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Pandyan Grama Bank disburses Rs. 50 lakh loan

Special Correspondent
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During three-day ‘Financial Expo 2012’

In aid:Mayor Vijila Sathyananth and M. Xavier Thilagaraj, Chairman, Pandian Grama Bank, handing over loan to a beneficiary during amela at Palayamkottai.
In aid:Mayor Vijila Sathyananth and M. Xavier Thilagaraj, Chairman, Pandian Grama Bank, handing over loan to a beneficiary during amela at Palayamkottai.

Pandyan Grama Bank, one of the premier Regional Rural Banks of Tamil Nadu, disbursed loans to the tune of Rs. 50 lakh to 38 beneficiaries during the three-day ‘Financial Expo 2012’ held at Vannarpet here recently with the objective of popularising its services.

After being inaugurated by N. Amanullah, Project Director, District Rural Development Agency, in the presence of V. Chidambaram, General Manager of the bank, over 5,000 visitants visited the expo and enquired about various deposit and loan products available with the bank, which transacted business to the tune of Rs. 19 crore during this expo.

M. Xavier Thilagaraj, Chairman of PGB, said that the financial expo, the bank’s maiden attempt had brought in a good number of new customers under its fold and hence similar expos would be conducted in other regions also. He informed that 441 persons had registered their names for financial assistance for housing, vehicle, easy loan, solar lighting, Small and Micro Enterprises loans, rural godown, agri clinic and other loans.

Mr. Xavier also stated that the bank was offering housing and vehicle loans at competitive rates of interest as a special bonanza announced exclusively for the expo.

Tirunelveli Mayor Vijila Sathyanath, who presided over the valedictory function, lauded the bank’s services to the people in remote villages, especially to the below poverty line families through its Business Correspondents or Ultra Small Branch models.

On-the-spot sanction and loan disbursement to the tune of Rs. 50.64 lakh was made to 38 beneficiaries in the valedictory function.

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