Stalin distributes revolving fund to 2,500 SHGs

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Chennai, Aug 19 (UNI) Tamil Nadu Local Administration Minister M K Stalin today presented revolving fund, amounting to Rs 2.50 crore, to 2,500 women Self-Help Groups (SHGs) to enable them to avail bank credit and operate successfully by engaging in income generating activities.

This was part of the State Government's endevour to provide revolving fund to the tune of Rs 150 crore to all the 1.50 lakh SHGs during this financial year, an official release said here.

These 1.50 lakh SHGs, out of the 3.63 lakh SHGs in the State have not received revolving fund, even though they have acquired the eligibility, it said.

In today's function, Mr Stalin distributed revolving fund, amounting to Rs 2.50 crore, to 2,500 SHGs, which would help them to avail bank loans to the tune of Rs 24.86 crore for taking up income generating activities.

In the next few days, all eligible SHGs in all the districts would be given the revolving fund. In the last two years, the Government had distributed 30 crore to 30,000 SHGs in the urban areas, the release added.

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