Janasree to focus on micro credit

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Thiruvananthapuram, Jan 15: Janasree Sustainable Development Mission (JSDM), a new venture giving greater thrust to micro credit, will be launched here on February 2, its Chairman M M Hassan said today.

Talking to reporters here, he said Union Finance Minister P Chidambaram would inaugurate the Micro Credit Summit at Kochi. The object of the JSDM, registered as a charitable trust, would be to initiate programmes to fight unemployment, poverty and evil practices in the society, he said.

Claiming that the mission would function without any assistance from the government, he said it would help societies under the JSDM to get loans from nationalised banks.

However, there would be no subsidy to these loans and each unit should repay from their own business.

Mr Hassan said the JSDM would organise family counselling and promote bio-vegetables. Training would be given to people through experts in the field.

Stating there would be ten lakh members in the mission when it was fully operational through 50,000 Janasree units in 14 districts, he said 30,000 units had already been started with a membership of six lakh.

Pointing out that the object was to enroll all groups of people, he said those who completed 18 years would be eligible for membership in one unit comprising five to ten families.

Stating that the Centre had a proposal to grant Rs 50,000 crore to micro credit, he said only Rs 15,000 crore was being utilised and with the establishement of Janasree, it would be easy to get such assistance from the Centre for the unemployed groups.


UNI

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