Banks disburse loans under Mudra scheme

Disclosing this, Vellore district’s Lead District Manager (LDM) S Damodaran said the move was a bid by all banks to provide loans for entrepreneurs of small and medium enterprises under the Prime Minister’s Mudra scheme. “It was an occasion to create awareness of the brand, as different names are given to loans upto Rs 50,000, between Rs 50,000 to Rs 5 lakh, between Rs 5 lakh and Rs.10 lakh and between Rs10 lakh and Rs 1 crore,” he added. 

Tuesday’s participating banks included Indian Bank, SBI, IOB and Canara Bank, he said and added the meet also highlighted various banks achievement under various schemes. “While the District Industries Centre (DIC) sanctioned Rs 9.35 crore for 63 beneficiaries against the targeted Rs.3 90 crore for 39 beneficiaries under the New Entrepreneur cum Enterprises Development (NEED)scheme, under the Prime Minister’s Stand Up India scheme achievement for 2017-18 was Rs.3.14 crore for 81 beneficiaries, against the target of Rs 1.88 crore for 94 beneficiaries,” Damodaran said. 

Under the Unemployed Youth Employment Generation Programme,banks sanctioned Rs.1.20 crore to 184 beneficiaries, against the target of Rs.1.20 crore for 240 beneficiaries.While Collector SA Raman presided, DIC GM V Manivannan felicitated and Canara Bank Regional Manager Tilakraj, IOB Senior Regional Manager Shivakumar, A Amirthakatesan, President, Ranipet SIDCO entrepreneurs association, SBI Regional Manager Sarathy and Indian bank Zonal Manager S Sundararaj participated.