Autonomy for PLFs likely

Special Correspondent

NAGAPATTINAM: The government was ready to give autonomy to Panchayat Level Federations (PLF) with good performance records which could function like Micro-Finance Institutions (MFI) in rural areas, Collector M. Jayaraman said here on Thursday.

Speaking at a one-day orientation programme organised to discuss the concept of PLFs with bankers, NGOs and government officials, Mr. Jayaraman said that two PLFs had already received Rs. 10 lakh each from Indian Overseas Bank.

Pranthiyankarai Primary Agricultural Co-operative Bank (PACB) had come forward to give Rs. 20 lakh to the Kariyapattinam PLF.

Funding for PLFs

More PLFs would be provided with adequate fundsslowly, Mr. Jayaraman said. The plan was to create a hierarchy among the PLFs followed by a block level federation (BLF).

The first goal would be to eliminate usury. The PLFs should create conditions for economic independence of women SHGs.

The important thing was to maintain standards and competitiveness, he said.

S. Suriyakala, Project Officer, Magalir Thittam, gave the introductory address.

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