Andhra Pradesh

Record loan disbursal by UBI

Reaching out: UBI General Manager L.N.V. Rao (centre) flanked by ITDA Project Officer A. Sarat and UBI DGM K.C. Charamana with Dhimsa dancers at Paderu in Visakhapatnam district on Thursday.

PADERU (Visakhapatnam Dt.): There were smiles on the faces of hundreds of women from Paderu, G. Madugula, Hukumpeta and Pedabayalu mandals, located in the agency areas, when they gathered here on Thursday.

The reason. The Union Bank of India (UBI) sanctioned loans amounting to Rs.10.05 crores to the 859 Self Help Groups (SHGs). For the first time in history of the agency, such a large amount was disbursed through a single bank branch which was a record.

UBI General Manager L.N.V. Rao, who participated as chief guest, was visibly impressed at the huge turnout of women for the meeting. He urged upon the SHG members to utilise the loan amounts to realise their dreams by taking up employment generation schemes and contributing to the economic improvement of their family, society and the nation as a whole.

Acknowledging the fact that there would a lot of obstacles for women when they try to tread the path of progress, he said fortunately the government, various agencies and NGOs were supporting the fair sex as they had all realised the power of ‘Stree Shakti’. Mr. Rao was optimistic that the SHG members would accomplish all their aspirations by proper utilisation of the loans taken and repay the debt promptly.

ITDA Project Officer A. Sarat said that a mere Rs.50 lakhs was taken as loan by tribals of the agency in 2005. A review done during June 2006 revealed that 70 to 80 per cent of the tribals were depending on moneylenders and were being exploited by the latter. He said that Minister for Commercial Taxes Konathala Ramakrishna had suggested issue of ‘pavala vaddi’ loans to the tribals to save them from a debt trap.

Loans to the tune of Rs.17 crores were extended in the agency during 2006 and Rs.23 crores was sanctioned through various banks so far this year. Deputy General Manager of the Bank K.C. Charamana, Assistant General Manager of National Bank for Agriculture and Rural Development (NABARD) Uday Bhaskar, UBI Chief Manager Ravindra Kumar, Branch Manager Krishna Rao, ZPTC member Usha Rani, MPP S.V.V. Ramana Murthy and Girijana Mahila Samakya (GMS) president Devudamma spoke.

An agreement also signed between the UBI and GMS for provision of loans to the tune of Rs.100 crores to SHGs till 2015. UBI General Manager handed over a cheque for Rs.10.05 crores to the GMS for advancement of loans to the SHGs.

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