Fisherwomen get loans

Fisherwomen get loans

As many as 20 fisherwomen groups received loans at three per cent interest through Joint Liability Groups, under a financing scheme formulated by Department of Fisheries along with Corporation Bank, in association with Dakshina Kannada and Udupi District Co-operative Fish Marketing Federation.

As per the loan scheme, the department of fisheries gives the loans which will be disbursed at 12.5 per cent rate of interest, of which three per cent interest will be collected from the fisherwomen while the remaining 9.5 per cent will paid by the Government.  The loan is payable within 35 months.

Under the scheme, each Joint Liability Group shall have minimum of four and maximum of 10 members each and each member shall be eligible for a maximum loan of Rs 50,000.

Disbursing the loan to some of fisherwomen Self Help Groups during a formal programme on Wednesday in Mangalore, Corporation Bank Chairman and Managing Director Ajai Kumar said that earlier in association with the Federation, Corporation Bank has financed about 233 JLGs and loan of Rs Rs 9.73 crore has been extended through six branches of Udupi district.

He said that Corporation Bank has identified 72 JLGs in Mangalore through the Federation and about Rs 3.50 crore finance will be extended to them through 11 branches of Mangalore.

The programme was inaugurated by Coastal Development Authority Chairman B Nagaraj Shetty who said that the Authority has taken up renovation of 10 markets and 20 more fish markets will be renovated next year. Apart from this, he said there are 801 markets in the entire coastal stretch, which will also be developed. Karnataka Fisheries Development Corporation President Nithin Kumar, Corporation Bank General Manager K Rama Murthy among others were present.