Chennai: Chief Minister Edappadi K Palaniswami today said the number of Tamilnadu Grama Bank branches will be increased from 630 to 1,000.
Handing over loans to beneficiaries at a function in Salem, he said Pandiyan and Pallavan Grama Banks have been joined to form the Tamilnadu Grama Bank.
“Loans are given only to the self help groups, farmers and poor people. It is a record that 99 per cent beneficiaries have repaid the loan that they took,” he said.
The Chief Minister further said loans to the tune of Rs 20 lakh are given in these banks without any mortgage. “This bank has freed people from the clutches of usury,” he said.
Palaniswami said two new law colleges will be started in Salem and number of students opting for higher education increased due to the the efforts taken by the government.
Palaniswami in Kanchi tomorrow
Sources said Chief Minister Edappadi K Palaniswami will be visiting Kanchipuram to have darshan of Athi Varadar tomorrow.