Virudhunagar gets Rs.1.75-crore loan

VIRUDHUNAGAR: The district got Rs. One-crore fund from Tamil Nadu Backward Classes Economic Development Corporation (TABCEDCO) and another Rs. 75 lakh from Tamil Nadu Minorities Economic Development Corporation (TAMCO) for providing soft loans to the poor for starting economic activities.

In a statement, the Collector (in-charge), S. Malarvizhi, said that one member of a family, whose annual income was Rs. 40,000 in rural areas and Rs. 55,000 in urban areas, was eligible to get the loan. Both men and women could get the loans for selling vegetables, provisions, fish, flower or any other small trade. Those who had been members of self-help groups for at least six months could get Rs, 10,000 each and each group could get up to Rs. 2 lakh.

Those who want to obtain the loans can submit applications to the managers of all Primary Agricultural Cooperative Banks, Urban Cooperative Banks, and Central Cooperative Banks, District Backward Classes Welfare Officer and the Joint Registrar of Cooperative Societies.The applications should be enclosed with community certificate, income certificate, photocopy of ration card, details of purpose of the loan, project report, driving licence (in case of getting loans to buy vehicles) and other documents sought by cooperative banks.