more-inChief Minister Edappadi K. Palaniswami has urged banks to increase their lending to self-help groups. “Women in self-help groups in Tamil Nadu have been promptly paying their dues without any default,” he said, speaking at the event to mark the 36th anniversary of the Nabard. Mr. Palaniswami also noted that the banks’ share in lending to self-help groups is smaller. Out of the ₹18,000 crore lending to self-help groups, banks only account for ₹6,300 crore, he noted and urged banks to step up their lending manifold in the coming years.According to Nabard, Tamil Nadu is one of the front runner States with 9.09 lakh self-help groups, with total savings of ₹1,065 crore. Of them, 2.17 lakh self-help groups were credit linked with bank loan of ₹6,387.52 crore in 2016-17, when compared to ₹38,781 crore in respect of 18.98 lakh self-help groups at the all India level.

Source: The Hindu July 26, 2017 19:03 UTC