Canara Bank gives thrust on SHGs

Public sector Canara Bank is providing more thrust on loans to self-help groups in Andhra Pradesh as well as in the country. “Our recovery percentage in SHG loans is more than 95, so we are giving more emphasis on lending to SHG groups,” S Raman, chairman and managing director, Canara Bank, told mediapersons here on Thursday.

As on on Thursday, the bank’s advances to SHG groups are about Rs 1,200 crore of which, Andhra Pradesh accounted for Rs 150 crore, he said. Raman on Thursday launched the mega linkage programme on 1,600 groups by financing Rs 30 crore in nine coastal districts of AP. The bank is charging 10.75 per cent interest on these loans and of the total loan portfolio, 16 per cent was given to women, he said.