Pics: Spoorthy Ullal
Daijiworld Media Network - Mangalore (NM)
Mangalore, Mar 29: Corporation Bank, in collaboration with Dakshina Kannada and Udupi Co-operative Fish Marketing Federation Ltd launched a 3 percent interest loan (subsidized) scheme for fisherwomen through the Joint Liability Group (JLG) in the city on Wednesday March 28.
Nagaraj Shetty, president, Coastal Development Authority, Government of Karnataka, after inaugurating the scheme, thanked the chairman of Corporation Bank for formulating such a scheme of financing, while other federations usually expect 15 percent or more as interest.
He then said that today the younger generation prefers white color jobs than work in the fisheries sector. “In order to attract youngsters to this type of job, the government has always issued essential methods to regulate such development,” he added.
Shetty asked beneficiaries to make good use of that amount, be self-reliant, and then in turn expand the business and grow profitable.
In the presidential address, Ajai Kumar, chairman and managing director, Corporation Bank, said that it’s not the status, stature, and wealth that the Bank looks for in any of the customers but humanity. “We consider all our customers as human and we call it ‘human banking’,” he added.
“Corporation Bank is your bank as it started in DK and Udupi and continues to work for the people of the districts,” he added.
On this occasion, Kumar) was felicitated by Shetty with a shawl, bouquet, and memento for the financial support rendered to the fisherwomen.
The loan was issued under JLG. Each JLG has a minimum of four and maximum of ten members and each member was/is eligible for a maximum loan of Rs 50,000.
As there are 72 JLGs (about 700 fisherwomen) in Mangalore, about Rs 3.50 crore finance is extended to them through 11 branches in Mangalore. As many as 15 women’s self-help groups symbolically received cheques on the occasion.
Yashpal A Suvarna, president, Fish Marketing Federation welcomed, RP Arora, deputy general manager and zonal head, Mangalore zone of Corporation Bank, proposed the vote of thanks. Nitin Kumar, president, Karnataka Fisheries Development, and Suresh Kumar, joint director, were the guests of honour.