Loans to women SHGs will be given within 21 days, says Minister Udhayanidhi

During the question hour, Mani asked whether the government will take steps to speed up the disbursement of loan assistance provided to women SHGs.
Minister Udhayanidhi
Minister Udhayanidhi

CHENNAI:  Minister for Youth Welfare and Sports Development, Udhayanidhi Stalin, told the Assembly the applications for loans from women self help groups are being approved within 15 days after carrying out scrutiny, and the loan is being credited to their respective bank accounts within 21 days. His response follows a question raised by PMK floor leader GK Mani.

During the question hour, Mani asked whether the government will take steps to speed up the disbursement of loan assistance provided to women SHGs. In his response, Udhayanidhi said the WSHGs can get loans from banks if they follow due process such as properly maintaining bank accounts, conducting meetings regularly and providing circular loans to the group members and others.

“If they apply for loan, the application will be scrutinised and will be approved within 15 days and the loan amount will be credited within 21 days in their SHG account,” the minister underlined. The minister added if any loan applications from WSHGs are pending for more than 21 days, the district collector will take further steps at the bankers’ meeting.

The minister also highlighted the success of loans provided to WSHGs, with a total of Rs 25,022.19 crore granted in 2022-23, benefiting 4,39,349 WSHGs, which exceeded the target of Rs 25,000 crore. Replying to a question from DMK member R Manickam, who asked when the ‘Poomalai’ commercial complex, meant for WSHGs in Karur district would open, the minister said renovation of the Poomalai commercial complex in 29 districts is currently underway for Rs 6.10 crore. 

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‘Collector will take a call’
Udhayanidhi told the Assembly if members of women SHGs apply for loan, the application will be scrutinised and will be approved within 15 days and the loan amount will be credited within 21 days in their SHG account. He added if any loan applications from WSHGs are pending for more than 21 days, collectors will take further steps at the bankers’ meeting.
 

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