99 per cent of SHGs have repaid loans
KARUR: Emboldened by the exceptional recovery rate, banks are ready to extend more credit to women self-help groups that are able to repay the loans promptly, Local Administration Minister M.K. Stalin said here on Monday.
Speaking at a government function here in which he gave away revolving fund credit worth Rs. 10.40 crore to 1,871 women SHGs, laid the foundation stone for 892 new works estimated to cost Rs. 21 crore and declared open 205 new works completed at a cost of Rs. 15.72 crore in the district, Mr. Stalin said that the SHGs were being popularised not with an eye on the elections but to really empower the women, especially those belonging to the rural areas.
The SHG movement has grown to instill self-confidence and boldness among the women folk and they were more aware of their rights at present more than ever before. Their morale was high as they have started earning on their own and their general awareness level has also increased, Mr. Stalin observed.
There were a total of 3.70 lakh SHGs in the State including 19,689 men SHGs. A total of 59.25 lakh women were members in the SHGs. In Karur district alone, there were 8,250 SHGs comprising 1.31 lakh women. They have raised a savings of Rs. 49.56 crore as of September 30, the Minister pointed out lauding their efforts.
Stating that there were complaints with regard to disbursal of credit to urban SHGs, Mr. Stalin said that the State Government was interested in their welfare too and they have been specially allotted Rs. 150 crore for extending credit to those groups.
Pointing out that the 99 per cent of the groups in Tamil Nadu had repaid their credit in time to the banks, Mr. Stalin said that banks would be willing to extend credit to the SHGs that were prompt in repaying. Refinancing would never be a problem as long as the groups repay in time, Mr. Stalin said.
The Minister also listed the various development and welfare schemes that have been launched by the State Government.
Transport Minister K.N. Nehru, Forests Minister N. Selvaraj, Collector T.N. Venkatesh, MP K.C. Palanisamy, MLAs P. Kamaraj (Krishnarayapuram), R. Manikkam (Kulithalai) and M.A. Khaleelur Rahman (Aravakurichi), DMK district secretary Vasuki Murugesan and others participated in the function.