Date:06/10/2006 URL: http://www.thehindubusinessline.com/2006/10/06/stories/2006100603760900.htm

Back Nabard scheme for SHGs

Our Bureau

Chennai, Oct. 5

The National Bank for Agriculture and Rural Development (Nabard) will launch a programme enabling self-help groups (SHGs) to avail themselves of credit from post offices, according to a press release from Nabard.

Through an agreement between the bank and the Department of Posts, Tamil Nadu Circle, the SHGs will be able to invest their savings in the post office schemes and avail themselves of loans through the post offices, the release said. The pilot project will be launched on October 7 in Kancheepuram and Pudukottai districts, Tamil Nadu, and will be extended to Sivaganga shortly. Nabard has earmarked Rs 34 lakh for lending to the post offices to support the scheme.