Chidambaram distributes loan cheques to slum dwellers
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Last Updated: Thursday, January 07, 2010, 17:42
New Delhi: To help slum dwellers start their business and gain educational benefits, Home Minister P Chidambaram distributed loan cheques to the needy in the national capital.

The loan distribution scheme, organised by Asha NGO and supported by eight public sector banks, was launched by Chidambaram in 2008 and an amount of Rs one crore and eighty lakhs have been disbursed till now to the needy for starting their business, home renovation, higher education and purchase of two wheelers.

"I hope more of you go to the banks, more of you take loans and more of you go on to lift yourselves up from poverty," Chidambaram said while addressing the beneficiaries at an event yesterday.

Under this scheme, the rate of interest for loans is low, no collaterals are required and there are no penalties for early repayments to the account holders.

Chidambaram said while the project has been going on in one particular slum, there are many other slums in the national capital and many more throughout the country where the scheme should be launched.

Others who attended the event included Australian High Commissioner to India H E Peter Varghese besides Punjab National Bank chairman K R Kamath.

Chidambaram also praised the efforts taken to provide loans to slum dwellers.


First Published: Thursday, January 07, 2010, 17:42

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