Syndicate Bank Offers Rs 5.18 Crore Loan For Rural Employment

Syndicate Bank and regional rural banks (RRBs) sponsored by it have together extended assistance to the tune of Rs 5.18 crore to promote self employment among the rural youth, enabling them to set up their own ventures.

A bank release said the five institutes for rural entrepreneurship development set up by Syndicate Bank to promote self-employment among rural youth have so far imparted entrepreneurship training to 4,700 youths.

These institutes set up in Karnataka and Uttar Pradesh also train participants of government-sponsored poverty alleviation schemes and impart skills for running small business units.

While 2,700 youths have been trained under the schemes like the Prime Minister Rozgar Yojana and Swarna Jayanthi Gram Swarozgar Yojana, another 2,000 participants underwent training targeted at rural self help groups.

Among the trainees, 47 per cent were women and 22 per cent belonged to scheduled caste/scheduled tribe communities.

During the current year, the said institutes plan to organise agricultural entrepreneurship programmes with a view to churn out versatile farm entrepreneurs. These institutes support the trainees with counselling and guidance for a period of three years.

...bags Infinet award

Syndicate Bank has been conferred with the 'Special Award for Innovative Use of Banking Applications on Indian Financial Network (Infinet)' for the year 2001 by the Institute for Development & Research in Banking Technology (IDRBT).

A bank release said that Reserve Bank of India deputy governor Vepa Kamesam presented the award to Syndicate Bank executive director M S Kapur at the conference of chiefs of public sector banks (PSBs) at the institute in Hyderabad.

Infinet is a communication net work set up by RBI for banks and financial institutions and connects 180 cities/towns. It provides the means for quick, safe and efficient movement of funds and information.Syndicate Bank has utilised the above facility at 14 centres covering 450 branches for quick data transfer and messages, the release added.