Chidambaram asks people to utilise public sector banks

Inaugurates a new branch of Central Bank of India at Kollangudi

HELPING HAND: Union Home Minister P. Chidambaram distributing loans to beneficiaries at a function held in Kollangudi, near Sivaganga on Sunday. Photo: L. Balachandar

Union Home Minister P. Chidambaram has asked the people to utilise the services of public sector banks to optimise their growth.

Speaking at a function after declaring open a new branch of Central Bank of India at Kollangudi near Kalaiyarkoil on Sunday he said that the Sivaganga district has large number of banks. This has opened up the gates for development. Hence, the people including farmers, traders and others should utilise the opportunity to avail loan and other services.

Mr. Chidambaram added that the banks are asked to give priority to agricultural sector loans such as crop, tractor, land development, improvement of wells and others.

Education loans

Similarly, the Government has asked them to distribute education loans to all eligible students. The opportunities should be harnessed by the farmers, students and others.

He said that the Central Bank of India, which was facing rough weather for some years, has become one of the strong banks in the country. The Non Performing Asset (NPA) of the bank is less than 1 per cent, which is a healthy sign.

Vijayalakshmi R. Iyer, Executive Director of the bank and others took part in the function.

Earlier, Mr. Chidambaram distributed loans to a large number of beneficiaries.