The Hindu Business Line : Dhanalakshmi Bank earmarks Rs 51 cr for micro credit

WITH the increased demand and the immense potential for micro credit, the Thrissur-based Dhanalakshmi Bank has set apart Rs 51 crore for micro credit disbursal for the current year.

The bank had set up a Micro Credit Cell at the corporate office in 2002, to give an added thrust to lending activities under the scheme as well as to monitor its progress, a press release from the bank has said.

This has been accomplished by extending credit to Self Help Groups for various activities undertaken by its members. These activities are coordinated through micro credit Field Officers and Agricultural Extension Officers. The bank has appointed Prof. V.J. Pappoo, former Pro-Vice Chancellor of Calicut and Cochin Universities as a consultant for overseeing the overall activities.

In the initial year of launch, the bank was able to extend credit to the tune of Rs 47 lakh to self help groups. The bank now extends assistance to around 17,500 members belonging to 880 SHGs covering a total outlay of Rs 11.45 crore.

The latest in the chain of such assistance was a micro credit loan of Rs 50 lakh extended to Chetana Women's Voluntary Organisation, a registered NGO for further lending to 50 SHGs. The loan disbursement ceremony was held at Chetana, Samudhaya Bhavan, Thittamaranahalli, Chennapatna Taluk in which more than 1200 members of 50 SHGs participated.

There have been no NPAs under this programme.and the recovery has been 100 per cent, the bank said.

The Bank retains the number one position among Kerala-based banks in micro credit finance, the press release added.

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