Members of various societies from the fishermen community attended a meet in the city on Saturday to receive loans without providing security.
The disbursal letters for the loans, given by Vijaya Bank, were handed over to 1,700 fisherwomen, who work in and around Mangalore, by H.S. Upendra Kamath, Chairman and Managing Director (CMD), Vijaya Bank.
The bank sanctioned loans estimated at Rs. 8.02 crore to 1,700 beneficiaries from the fishermen community. The beneficiaries had taken the loans through 167 societies. Individual members of the JLG get Rs. 50,000 as loan. The bank charges 9 per cent rate of interest and the beneficiaries repay the borrowed amount at 3 per cent rate of interest (after deducting the government subsidy and the interest subvention).
The societies whose members received loans, included Sri Lakshmi Mahila Sangha, Chamundeshwari Mahila Sangha, Mogaveer Mahila Sangha, and Manjunatha Mahila Sangha.
