Union Minister for Chemicals and Fertilizers M.K. Azhagiri said here on Saturday that banks should not hesitate in providing financial assistance to the needy.
Inaugurating the 3,039th branch of the Bank of India (BOI) on the premises of the Tamil Nadu Food Grains Marketing Yard at Milakaranai near here, Mr. Azhagiri commended the institution for sanctioning an education loan to a college student who had given a representation to him seeking assistance to study abroad.
"After being elected to Parliament from Madurai, I opened a grievance redressal office here on July 3. A boy named Karthik sought my help stating that many banks refused to give him loan. Immediately, I asked my personal assistant to contact officials of this bank and they readily agreed to provide the money," he said.
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The Minister presented cheques to leaders of 41 self-help groups (SHGs), comprising 680 women, who were given loans by the bank. He also gave away educational loans worth Rs. 20 lakh to many students.
Collector N. Mathivanan, Tamil Nadu Minister for Adi Dravidar welfare A. Tamilarasi, General Manager of southern zone of the BOI Vijay Mehta, senior president of the Tamil Nadu Chamber of Commerce and Industry S. Rethinavelu and senior branch manager of the BOI’s Milakarani branch Rm. Venkatachalam participated.