Date:25/05/2008 URL: http://www.thehindu.com/2008/05/25/stories/2008052553000300.htm

Tamil Nadu

Bank village adoption programme launched

Staff Reporter

To provide education, health and sanitation facilities

CLOSE INTERACTION: Union Finance Minister P. Chidambaram having a word with a beneficiary at Nachandupatti on Saturday.

PUDUKOTTAI: A long-felt need of the residents of Nachandupatti near here for the branch of a nationalised bank was fulfilled on Saturday, when the Union Minister of Finance, P. Chidambaram inaugurated the branch of the Union Bank of India.

The villagers were doubly happy when the Union Minister also inaugurated the bank’s village adoption programme to be implemented in 101 villages including Kottur village falling under the service area of the branch. Speaking on the occasion, Mr. Chidambaram said that the adoption programme aimed at providing education, health and sanitation facilities to the villages.

A survey conducted at the village revealed that only 260 hectares of the total 736 hectares in the village got assured irrigational facility. The list of names of beneficiaries under the increased loan waiver package would be displayed at the branches of the banks from June 1 to 30.

The Minister appealed to the potential depositors of the village to deposit their money with the branch.

The Assistant General Manager of the bank, S. Murali, said that the bank registered a net profit of Rs. 1,387 crore during 2007-08. The Chairman and Managing Director of the bank, M. V. Nair, said that the bank had sanctioned Rs. 700 crore under a special loan scheme to protect the farmers from the clutches of usury. A total of 1,300 branches had been computerised. The Union Minister for Environment and Forests, S. Regupathy, the District Collector, D. Uthirakkumaran also spoke. Mr. Chidambaram and Mr. Regupathy distributed loans sanctioned by the branch.