Loan Mela: Rs 5 cr distributed to 110 beneficiaries

Guntur: Machilipatnam MP V Balashouri said it is the right of every person to get a loan from a bank.

He addressed the Loan Mela conducted by the banks at Subham Convention Hall in Machilipatnam on Monday. Speaking on the occasion, he felt happy over distributing loans to the women, youth and poor.

He urged the beneficiaries to properly utilise the loans. Women came forward to take loans, which is a good sign, he said. Loans were sanctioned for setting up grocery shops. Fishermen have taken loans for starting petty businesses and personal loans were also distributed.

SBI, Indian Bank, Bank of India and UBI distributed loans worth Rs 5 crore to 110 beneficiaries. He further said that they will conduct the Loan Mela again very soon.