Around 37 banks, who have about 680 branches in Coimbatore city, recently joined hands and organized a mega loan camp in the city. Under Pradhan Mantri Mudra Yojana, about 6480 beneficiaries received loan sanction orders worth of Rs 35.38 crores.

District Collector Archana Patnaik, who took part in the camp handed over loan sanction orders and debit cards to the beneficiaries. In her presidential address, she encouraged the banks to organize awareness programmes about the loan schemes. “The scheme is essential for the small and micro sector industries, which requires small amount of investment. The bank administrations have to organize awareness programmes on the Mudra Loan scheme to reach the benefits to more number of people.” she said.

She also motivated the public to approach the nearest bank branches to avail loans available under the Mudra Scheme. Speaking about the scheme, Deputy General Manager (B&O), State Bank of India, Coimbatore, R S Ramesh, said, “The central government has set a target of distributing Rs 1.22 lakh crores under the Mudra Loan scheme across the country. The Mudra Bank provides loans under three categories of Shishu, Kishor and Tarun with the objective to providing funding to the non corporate small business sector. The loan of up to Rs 50,000 would be provided under Shishu and the loan from Rs 50,000 to Rs 5 would be sanctioned under Kishor. Meanwhile, loan cover up to Rs 10 lakh would be given under Tarun.”

General Manager of Canara Bank, S Krishnan, Coimbatore, said, “There is slack of growth in non corporate sector due to unavailability of loan for sector. The Mudra scheme will boost the growth for the small sector with providing loans.” M Paramasivam, General Manager of IOB, Coimbatore and K Krishnamoorthy, Lead District Manager, Coimbatore were also graced the occasion with his presence.