Quick disbursal of loans to industries aided economic development, said Collector S. Natarajan here on Friday.
Addressing businessmen at a support and outreach programme organised for micro, small and medium enterprises by Madurai District Tiny and Small Scale Industries Association, he said small businesses were drivers of economic growth as they generated large-scale employment.
“Madurai has the advantage of the availability of a large pool of educated youth who can be employed by business units. Moreover they do not demand high salaries. Business units should tap this resource to their advantage,” Mr. Natarajan added.
The day also saw commemoration of the 100th day of the launch of 59-minute loan campaign.
As many as 113 persons received loans totalling ₹10.63 crore as part of the initiative. Lead Bank Manager K. Arivalagan said two persons received in-principle loan of ₹1.5 crore as part of public sector bank (PSB) loans. “Within 100 days, we have sanctioned such loans worth ₹10.16 crore. We have also opened 10,347 accounts under Pradhan Mantri Jan Dhan Yojana. Twenty five camps were conducted to reach hundreds of entrepreneurs,” Mr. Arivalagan added.
