Encourage self-employment: Collector tells bankers

Collector P. Madhusudan Reddy gives away a credit intimation letter to a borrower at a special camp in Sivaganga on Friday.   | Photo Credit: HANDOUT_E_MAIL

District Collector P. Madhusudhan Reddy has appealed to all the major public sector banks in Sivaganga district to encourage giving loans to self-employment category as they not only gave jobs to the seekers, but also helped the economy achieve robust growth.

He said this while giving away credit intimation letters to as many as 702 borrowers from various banks here on Saturday. The loans were given for different purposes including investments in small and tiny units in the district.

The role of banks in the society was crucial as advances to the right people not only helped in enhancing job opportunities in small and tiny sectors, but also gave them the economic empowerment, he pointed out.

During the pandemic period, such a large scale disbursal of loans showed that the people were confident of doing business and return on investment was assured.

He urged the bankers to study the feasibility of the applicants seeking loans and to give them a proper feedback within a week’s time. “Whether it was on a positive note or negative, convey the decision to them quickly. So in case of denial, they may approach some other institution,” Mr Madhusudhan Reddy said.

The Sivaganga district had a number of service industry apart from agro based firms, automobile, jewellery, handicrafts, textile and among others. The health sector has also become a sun rise industry in the district with more number of people stepping into the business, the bankers said and added that repayment of loans in the priority and non-priority sector was encouraging when compared with other districts.

The State government had already recommended the officials in Mahalir Thittam and Rural Development departments to encourage revival and formation of self-help-groups. Those who had not turned NPA or default in the past, but remained dormant for some vague reasons, may be supported after examining their proposals, the officials said and added that subsidy component from both Central and State governments encouraged the borrowers to opt for agriculture, horticulture and among other fields.

Lead Manager Illavazhagan, DIC Manager Ganesan, Regional Managers from IOB, Indian Bank and among others participated in the loan mela.

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Printable version | Jan 21, 2022 2:38:43 AM |

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