Banks urged to give priority for self-employment ventures

Swaran Singh inspects works at District Industries Centre

Swaran Singh, Principal Secretary and Commissioner for Industries andCommerce, inspecting a coir manufacturing unit at Azhagammalpuram inPudukottai district on Saturday

All bank branches should accord priority for extending loans for setting up self employment ventures, said Swaran Singh, Principal Secretary and Commissioner for Industries and Commerce.

Mr.Swaran Singh inspected the Tamil Nadu Industrial Cooperative Bank branch functioning on the East Main Street on Saturday and made enquiries on the loan portfolio and net profit registered by the branch.

He interacted with the customers of the bank and enquired about the interest rate and services rendered by the bank.

He directed the officials to take steps to ensure quick service to customers and extend loans to all eligible applicants. The bank should achieve the targets fixed under different fronts, he told the officials.

Earlier, Mr.Swaran Singh inspected the construction of meeting hall, parking lot, reception hall, toilet block, and compound taken up on the District Industries Centre premises at an outlay of Rs.78 lakh and directed the officials to complete them as per schedule.

Mr.Swaran Singh also inspected various industrial units launched with subsidy provided by the District Industries Centre and loans extended by banks.

He visited the handbag manufacturing unit at Nathampannai village set up with financial assistance from the City Union Bank; the PVC electrical pipe marketing unit at Adappanvayal set up with the assistance of State Bank of India; gift articles manufacturing unit at the municipal fourth street set up with loan from Syndicate Bank; a masala powder manufacturing unit in Machuvadi set up with loan assistance from Corporation Bank; and coir manufacturing unit at Azhagammalpuram set up with a loan from Canara Bank.

He made enquiries with officials and promoters on the quality of products, achievements of the beneficiaries, production target, number of workers employed, and wages paid to them.

The secretary said that the successful functioning of these units will enable in providing employment opportunities to youths and directed the DIC officials to conduct regular checks of these concerns.

He also urged the beneficiaries to ensure that they paid the loan dues promptly.

C.Manoharan, Collector, Devaraj, General Manager, District Industries Centre, Panchamoorthy, Executive Engineer, PWD, accompanied him.