Banks asked to implement 'Rinn Mukthi' scheme immediately

: Banks have been asked by District collector, M G Rajamanickam, to implement the "Rinn Mukthi" scheme immediately in the district.
The scheme formulated by SLBC (State Level Bankers' Committee) as required by the state government to those indebted to the unscrupulous money lenders.
While inaugurating the District Level Review Committee of Banks (DLRC) today, the Collector directed the bank officials to conduct awareness programmes, in this regard, through Financial Literacy Centres and Kudumbasree.
Banks must do everything to ensure that the poor are not left to the mercy of the moneylenders.
Pointing at the instances of denial of educational loans on flimsy grounds by some banks, he said all genuine education loan applications should be considered favourably. The grievance redressal mechanism, under the aegis of the Collector, would seriously view unlawful denial of education loans and suitable actions would be initiated, he said.

The banks have also been asked to pool their CSR funds at district level and utilise the same for the benefit of the needy.
The meeting was informed that deposits increased by Rs 2,271.43 crores during the period from January one to March 31 this year, to touch Rs 60,612.91 crores. Advances increased by Rs 2,959.14 crores during the period taking the total advance to Rs 52,777.29 crores.