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| PNB launches differential rate of interest campaign | | |
EARLY TIMES REPORT
JAMMU, Feb 19
Continuing its proactive role in the economic development of the state, Punjab National Bank (PNB) organized a Differential Rate of Interest lending camp at its branch office Shalamar Road.
The Lending camp was inaugurated by RC Kaul, Deputy General Manager, J&K Circle in which 77 beneficiaries were distributed loans for various schemes.
Speaking on the occasion, Kaul informed that Government of India had formulated a scheme for extending financial assistance at concessional rate of interest to selected low income group for productive endeavors. And under this Differential Rate of Interest (DRI) scheme borrowers with annual family income of Rs. 18000 in rural areas & Rs. 24000 in urban areas will be given loan facility at 4% rate of interest. He added that for this the target of 1% of the previous years Total Advances is fixed.
The efforts are made to lend eligible NGOs, Self Help Groups and organizations observing in remote areas to improve the performance under this scheme, he informed. Kaul said that a strategy for increasing DRI advances for Employment generation activities has been evolved. He requested small traders and people from low income group to come forward for availing loan under this scheme. He informed that the bank is organizing DRI lending camps in all the districts of the state.
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