Date:11/05/2004 URL: http://www.thehindubusinessline.com/2004/05/11/stories/2004051101411900.htm

Back Pandyan Grama Bank to set up separate micro-credit cell

Our Correspondent

Madurai , May 10

THE Pandyan Grama Bank operating in six districts in south Tamil Nadu, has proposed to set up separate micro-credit cell, in each district.

The purpose, according to the Chairman of the bank, Mr S. Manickam, is to enhance credit flow to the rural poor through self-help groups (SHGs) and joint liability groups, a new scheme to be implemented by the bank. The bank has linked 11,897 self-help groups with a credit outflow of Rs 80.62 crore, retaining the number one position in linking SHGs in Tamil Nadu, he said.

For the year ending March 31, 2004, the operating profit was Rs 19.37 crore; the net profit, after fully providing for the non-performing assets (NPAs), is Rs 4.82 crore. The net NPA has been brought to nil position.