Banks urged to extend loans to urban poor

Friday, 15 June 2018 07:53 administrator
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The Hindu    15.06.2018  

Banks urged to extend loans to urban poor

Participants at the meeting on 'National Urban Livelihood Mission' held at the Council Hall of the Oulgaret Municipality in Puducherry.S.S. KUMARS_S_KUMAR

Participants at the meeting on 'National Urban Livelihood Mission' held at the Council Hall of the Oulgaret Municipality in Puducherry.S.S. KUMARS_S_KUMAR  

500 beneficiaries to be identified in each Assembly constituency

The Oulgaret Municipality on Wednesday organised a sensitisation programme to create awareness among bankers on the implementation of the National Urban Livelihood Mission (NULM).

According to a senior official, among the several components of the NULM scheme, the Self-Employment Programme (SEP), aimed at the uplift of the urban poor, is being implemented in Puducherry.

As part of the scheme, 500 beneficiaries will be identified in each Assembly constituency and loan extended to enable them to take up individual and group ventures. The banks can directly accept the applications from beneficiaries for extending loans at subsidised interest rates. The scheme aimed at creating self-employment or job opportunities for urban poor through skill development training and creating necessary support facilities.

Besides creating social infrastructure, housing for the homeless and extending credit for small traders would be important components of the scheme. M. Kandasamy, Commissioner of Oulgaret Municipality; MLAs Ashok Anand, N.S.J. Jayabal, and M.N.R. Balan; Lead Bank Manager S. Chandrasekhar; and other officials attended the programme.