Loans totalling ₹47.18 crore disbursed to 968 self-help groups – The Hindu

Chennai News

Bank loans worth ₹47.18 crore were disbursed to 968 women’s self-help groups (SHGs) by P.K. Sekarbabu, Minister for Hindu Religious and Charitable Endowments, on Thursday.

According to N. Srinivasan, project director, Tamil Nadu Urban Livelihood Movement, Chennai district, the SHGs included those engaged in selling homemade snacks, pickles, saplings and gift bags. The loans would help these groups to promote and develop their businesses. ICICI Bank, Canara Bank and Indian Bank were among the banks that offer loans at subsidised interest rates. 

Tamil Nadu Urban Livelihood Movement has provided ₹9.15 crore as business loans to 466 urban groups, ₹1.60 crore to 505 individuals and ₹145.73 crore to 49,680 beneficiaries of 3,312 urban SHGs to start their businesses.

So far, around 11,848 SHGs in Chennai district have been provided with bank loans totalling ₹496.05 crore.