Loans worth Rs 5.12 cr provided to Self-Help Groups

Rajamahendravaram: Indian Bank distributed loans to the tune of Rs 5.12 crore to 87 Self-Help Groups (SHGs) relating to five branches on the premises of Gokavaram branch on Friday.

Bank general manager Selvam and zonal manager Sudhakar Rao handed over the cheques to the group members.

Gokavaram branch senior manager AK Shivaram, Ramanayyapalem branch manager KVV Satyananarayana, Tantikonda branch manager P Pradeep, Purshottapatnam branch manager B Madhav and Prakash Nagar branch manger CV Satyanarayana and others were present.

Later, bank general manager Selvam and zonal manager Sudhakar Rao advised the SHG members to avail the loan amount judiciously which was given
to stabilise their economic status. Indian Bank started giving loans to SHGs for first time in the state and continuing it successfully. 

The duo asked the beneficiaries to invest the amount in right trade to get income. They also advised them to repay the loan amount as per schedule to get loans again from the bank.