Autorickshaw drivers given a loan of Rs. 1 lakh each without collateral security: Executive Director
PUDUKOTTAI: Loans to the tune of Rs. 4.69 crore were disbursed at a function got up by Indian Overseas Bank here on Wednesday.
Members of 229 self-help groups got Rs.3.41 crore; 82 auto-rickshaw drivers got a loan of Rs. 1 lakh each for the purchase of auto-rickshaws; farmers were sanctioned agricultural loans totalling Rs.25.54 lakh under the IOB – Green Credit Yojana scheme; a sum of Rs.20 lakh was sanctioned under the IOB-Urban Horticulture Yojana scheme. This apart, six students got loans for purchase of lap-top.
Speaking after distributing the loans, Nupur Mitra, Executive Director of Indian Overseas Bank, said that the loans for the purchase of auto-rickshaws was sanctioned without any collateral security. The bank had entered into a memorandum of understanding (MoU) with Balaji Auto and TVS Motors in Pudukottai.
The loans were sanctioned under the Credit Guarantee Trust scheme for the Micro, Small and Medium Enterprises.
She also said that the IOB-Urban Horticulture Yojana scheme was a unique scheme being implemented all over the country to promote horticultural activities. It has been attracting an overwhelming support from the borrowers, she added.
A. Suganthi, Collector, who presided over the function, spoke on the importance of credit flow for the economic uplift of masses below the poverty line.
Pat for SHGs
She appreciated the hard work by the women members of self-help groups in the district for prompt repayment of loans.
P. Moorthy, Superintendent of Police, offered felicitations.
M. Manivel, IOB Chief Manager, Pudukottai branch, said that a special exhibition was organised for providing marketing avenues to the products made by the self-help groups.
Later, Ms. Mitra, declared open automated teller machhine services at Sudharsan Engineering College at Sathyamangalam, near here. Speaking on the occasion,
18 more ATMs
M. Ramadoss, IBO Chief Regional Manager, Karaikudi, said that it has been planned to start 18 ATM services in Sivagangai, Pudukottai and Ramanathapuram – the three districts where it is the lead bank.