Govt rules out support to 'self-interested' banks
Source: The Sangai Express

Imphal, December 31 2017: Chief Minister N Biren has categorically stated that the State Government would not extend any support to banks which are interested only in business community and Government employees but are reluctant to give even loans to the general public.

The Chief Minister was speaking during distribution of loan sanctioned letters to 45 people to take up piggery, poultry and embroidery works.

The 45 people were selected from the many applicants who approached the Chief Minister for assistance on the Meeyamgi Numit and Hill Leaders' Day.

The sanctioned letters for a total loan amount of Rs 54.36 lakh were distributed by Manipur State Cooperative Bank (MSCB) in the durbar hall of the Chief Minister's Secretariat this morning.

The loan amounts would be transferred to the respective bank accounts of the beneficiaries.

The Chief Minister asked all banks not to think only for business community and Government employees.

Banks should provide loans to deserving applicants for welfare of the society, Biren exhorted.

The State Government would not extend any support to banks which do not share any responsibility for the society's welfare and the Government has already adopted a decision towards this end.

Pointing out that loans are not grants but they should be paid back, the Chief Minister asked all loanees to cultivate a habit of paying back loans in time.

If the beneficiaries repay the bank loans in time, they would get 5 0 per cent of the loan amount as grant/subsidy, the Chief Minister added.

MLA Th Satyabrata, top ranking Government officials and MSCB officials were also present at the gathering.

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