The Collector of the Mayiladuthurai district, AP Mahabharathi, interacts with the Ganathy Selfayuda group in Kuthalam. | Photo credit: special arrangement
The main agricultural cooperative credit society (PACS) has disbursed ₹ 71.75 million rupees to 2,293 beneficiaries in Mayiladuthurai this year, with the aim of training women’s self -help groups (SHG) and foster entrepreneurship among agricultural workers.
According to A. Thayala Vinayagan Amulraj, a joint registrar of the Cooperatives Department, cooperative loans have been fundamental to transform the livelihoods of women throughout the district. “Our goal for this financial year is ₹ 82 million rupees, which we hope to achieve within this month,” he said.
Talking with The HinduT. Vetrimani, member of the Ganopathy SHG in Vazhuvur Panchayat, who shared his experience, said: “During the last three years, we have been taking advantage of PAC loans. Since we paid our previous loans in advance, our group was sanctioned ₹ 6 Lakh this year, benefiting 12 of our members. “The loan allowed him to buy cattle, generating an additional monthly income of ₹ 7,000.
Priority was given to the SHG of women involved in small businesses such as dairy agriculture, food processing and tailoring. “Until last year, a new SHG would receive ₹ 2 Lakh per year. This year, the amount has increased to ₹ 3 Lakh, ”said Amulraj.
Unlike regular cooperative bank loans, which have an interest rate of 10.75%, loans provided to SHG are granted to a 7%concession rate.
In addition, the department collaborates with the Mahalir Thittam program, which offers Business Training to SHG, helping them to climb their small businesses. “As Mayiladuthurai is predominantly an agricultural district, these loans provide an additional source of income for women beyond agricultural work,” said Amulraj.
Published – January 31, 2025 09:26 PM IST
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