Collector tells banks to grant loans to youth

The Collector, R. Palaniyandi, asked the banks in the district to take steps to expedite disbursal of loan to unemployed youth under Prime Minister's Rozgar Yojana (PMRY).

"A total of 112 requests had been pending with various banks as on December 31, 2006," he said.

Mr. Palaniyandi was reviewing the performance of the banks during the first three quarters of the current fiscal at the 101st Standing Committee Meeting of District Consultative Committee for Banking Development.

The meeting was organised by the lead bank (State Bank of India) here on Wednesday.

Under Swarnajayanthi Gram Swarozgar Yojana (SGSY), credit-linked subsidy was disbursed to 224 self-help groups of the total 319 applications sent to the banks, he said.

Mr. Palaniyandi directed the banks concerned to expedite the disbursal of loans to 42 physically challenged persons, who sought credit for economic activities under the SGSY scheme.

Under the land purchase scheme of Tamil Nadu Adi Dravidar Housing Development Corporation (TAHDCO), credit was sanctioned to 73 of the 161 applications sent to the banks.

Loans had been sanctioned to a total of 582 SC/ST persons under TAHDCO scheme to start business ventures. "Banks should process the remaining applications at the earliest," he said.

Source: The Hindu