PUDUCHERRY: Indian Overseas Bank (IOB) signed a Memorandum of Understanding with Rotary International-District 2980 to grant loans under Differential Rate of Interest (DRI) scheme to weaker sections of society to take up economic activities under the “IOB-Rotary-Sampoorna Scheme,” on Thursday .
According to a release, the Rotary International would identify beneficiaries to take up economic activities through its 104 clubs in Cuddalore, Villupuram, Salem, Namakkal, Dharmapuri, Krishnagiri, Thanjavur, Thiruvarur, Nagapattinam districts .
Loans would be given to artisans, self-employed persons such as dhobis, cobblers and petty traders. Financial assistance under the DRI scheme would be given to beneficiaries selected by IOB branches in these districts. Loans would be given to individuals with an annual family income up to Rs. 18,000 in rural areas and Rs. 24,000 in semi urban/urban areas, the release said.
A maximum loan amount of Rs. 15,000 for taking up gainful economic activities would be given.
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