Agri Business

Recovery good in collateral free loans to fisherwomen

Our Bureau Mangalore | Updated on January 30, 2011 Published on January 30, 2011


The collateral-free loans extended to fisherwomen in Mangalore by Indian Overseas Bank have been registering prompt repayment, according to Mr Ramachander Baikampady, former Chairman of Karnataka Fisheries Development Corporation (KFDC).

Speaking at a function organised by the ‘Central Dry Fish Seller Fisherwomen Association' in Mangalore on Sunday, he said nearly 150 fisherwomen were given a collateral-free loan of Rs 1 lakh each by Indian Overseas Bank.

These fisherwomen have repaid around 45 per cent of the loan in the last five months. The repayment will be completed in 11th month, he said.

Village adoption

Speaking on the occasion, Mr M. Narendra, Chairman and Managing Director of Indian Overseas Bank, said that IOB is ready to extend its assistance to the people of coastal Karnataka.

The bank is planning to adopt some villages in the vicinity of Mangalore for their development.

Mr Krishna J. Palemar, Karnataka Minister for Port and Fisheries, urged the bank to increase the collateral-free loan to fisherwomen from Rs 1 lakh to Rs 2 lakh.

The Karnataka Government can be associated in this direction, he said.

Fisheries jetties

Mr Yogish Bhat, Deputy Speaker of Karnataka Legislative Assembly, said that the tender process for the construction of all-weather fisheries jetties is in progress at Hoige Bazar and Bengre in Mangalore.

The projects are planned to be taken up at an estimated cost of Rs 57.6 crore.

Published on January 30, 2011
This article is closed for comments.
Please Email the Editor