Daijiworld Media Network – Mangalore (KD/RD)

Mangalore, Jul 1: State Apex Bank president M N Rajendra Kumar commended the state government for its measure on advancing loans at the rate of 4 percent interest to Self Help Groups (SGHs), thereby encouraging the members to achieve self-sufficiency.

A delegation led by Rajendra Kumar had presented a memorandum to the CM, urging him to advance loans at the rate of 4 percent interest to SHGs, as that of agricultural loans advanced to peasants by Co-Op Societies.

“Accordingly, the state government has announced the interest rate of 4 percent applicable to Co-op Societies for the loans advanced to SHGs on Apr 21.  This has brought a ray of hope to the downtrodden and poor in the society,” he said.

He has thanked CM H D Kumaraswamy, dyCM, B S Yediyurappa, cooperatives minister G T Deve Gowda and all members of the legislative assembly, for introducing a number of welfare schemes for the welfare of SHG members.

“SHGs are actively involved in bringing out economic prosperity in remote areas, which have made their mark in co-op sector are set to scale the new heights,” said Rajendra Kumar.