Stalin calls upon banks to liberally lend loans to redeem TN’s economy

Chief Minister MK Stalin on Monday called upon the banks to join hands with the State government in its efforts to redeem the economy of the State affected by the Covid-19.
Chief Minister addressing the representatives of the banks on Monday | express
Chief Minister addressing the representatives of the banks on Monday | express

CHENNAI: Chief Minister MK Stalin on Monday called upon the banks to join hands with the State government in its efforts to redeem the economy of the State affected by the Covid-19. He urged banks to help the government improve the lives of the poor and downtrodden by liberally extending loans and financial assistance to them.

Addressing the first bankers meeting after the DMK government assumed office, the chief minister pointed out the banks have a crucial role in redeeming the State from the impact of the coronavirus. “The State is at a crossroads after the pandemic. Lending loans to the key sectors has to be increased to reverse the loss of revenue suffered by numerous affected families,” he added. 

He said though Covid-19 has left us with a long list of setbacks, it also helped us realise our potentials.  “Within a few months, the State government set right the State’s medical infrastructure,” he added. 
Saying the target for credit links through banks to women’s Self Help Groups for the current financial year stands at `20,000 crore, Stalin pointed out loans worth `4,951 crore had been given till September 2021. This year, the banks should provide additional loans. He requested the banks to clear all the requests for micro-credit loans sought by street vendors through the PM SVANidhi Scheme.

Pointing out that the 49.48 lakh industries in the MSME sector are providing jobs to 96.73 lakh people, he said 1,37,429 applications were recommended for extending loans in recent years. But only 36.67 per cent have been allowed. This should be increased.  

Meanwhile, it is learnt that Stalin will take part in Thevar Jeyanti celebrations at Madurai and Ramanathapuram on October 30. He will also inspect Keezhadi during his one-day visit. Sources said he will reach Madurai by air on Friday.  “After paying tributes to the statue of freedom fighter Muthuramalinga Thevar at Goripalayam on Saturday, Stalin will proceed to Pasumpon village in Ramanathapuram district, where he will pay respects at the memorial of Muthuramalinga Thevar on the occasion of the leader’s 114th birth anniversary and 59th death anniversary,” they said. 

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