Pondy examining co-op bank branch for women SHGs

Puducherry, Apr 27 (UNI) The administration would examine the possibility of setting up a branch of the cooperative bank here exclusively for women's self-help groups (SHGs), Chief Minister N Rangasamy told the Legislative Assembly today.

Replying to a question, Mr Rangasamy said the administration would apporach the Reserve Bank of India for permission.

Subsidised loans were being provied to the women's SHGs through the cooperative bank and a revolving fund for 33 of the 103 SHGs had been created with an amount of Rs 5.42 crore.

To another query, the chief minister said the admninistration would take a decision on providing old age pensions through banks only after examining the matter in detail.

Several members disagreed with a demand from Mr Anand (PMC) for disbursing the pension through banks as most of them were having zero balance in their accounts.

The members said the concept will not suit rural areas where old people will have to walk a long distance to avail banking facility and it would be better to provide the pension through Anganwadis.

UNI