Micro Loan Camp Extended

Published: 03rd February 2016 06:20 AM  |   Last Updated: 03rd February 2016 06:21 AM   |  A+A-

CHENNAI: The Chief Minister J Jayalalithaa on Tuesday extended by three more days (February 3-5) the special camps for receiving applications for small loans. The 10-day special camps were scheduled to end on Tuesday.

The scheme is to help small traders who face great difficulty if they take  private loans at exorbitant rates of interest. Her step to extend the deadline was because of the overwhelming response to the Amma Micro Loan Scheme for small traders hit by heavy rains and floods.

Till February 1, 4,470 camps were held in almost all districts including Chennai, Kancheepuram, Tiruvallur, Tuticorin, Villupuram, and Cuddalore, where heavy rains had played havoc. Official sources said so far, `21.30 crore had been disbursed to 42,618 small traders after scrutinising their applications. Till February 1 (Monday), 2,29,854 applications had been received.

Though initially it was decided to conduct 500 special camps to receive applications for micro loans, more special camps were organised. The applicants included street vendors, fruits and vegetables sellers, tiffin stalls, and petty shops.

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