BOI disburses loans worth 200 crore to SHGs

NT Correspondent

Bengaluru: The Bank of India, which celebrates its 117 years of Foundation, started their 118th by disbursing loans to Self Help Groups(SHGs), here in Bengaluru on Thursday.

The program, titled "Customer Outreach and Mega Loan Disbursement programme to SHGs” had an vast attendance of more than 1200 people.

Guests including Vivekanand Dubey, General Manager – NBG South 2 Bank of India and Bhaskara Chakravarthy General Manager and Convener SLBC Karnataka and Roobvel, Project Manager NLM, Government of Karnataka gave away more than 1090 sanction letters.

The amount is reportedly worth Rs.200.00 crores. the beneficiaries in Bengaluru Zones under various segments of Economy viz Retail, MSME & Agriculture including SHGs.

In total, an amount of more than Rs. 205 Crores was collectively disbursed. Satish, a top official in the Bengaluru zone on BOI explained the basis of these loans.

"Loans for Groups ranged from Rs. 6 lakh to 20 lakh. The amount that a group saves and the activity they're involved in determines the amount that they are disbursed," he added.

It was mainly covering Disbursement of Rs. 118.00 Crore Loans to nearly 1050 SHGs which will strengthen the nearly 15000 SHG Women Members spread across 14 districts of South Karnataka.