Imphal: Deputy chief minister Yumnam Joykumar Singh said bank loans should not be treated as grants and habit of repayment should be encouraged among masses.
Joykumar was speaking at the inaugural function of common facility centre and distribution of seed money as MUDRA Loan and sewing machine to 90 beneficiaries of livelihood and enterprise development programme (LEDP) Imphal East under the sponsorship of National Bank for Agriculture and Rural Development (NABARD) at Lai Lampak Community Hall in Sabungkhok Village on Tuesday.
The attitude of proper utilization of bank loans for productive works and again the habit of loan repayment should be developed among selves, he added.
He said if so banks will take interest in lending money to the people. Beneficiaries should not confine only to the trades where many people have been working already but they should develop innovative ideas using expertise in them. Such innovations will definitely help to extend business volume and more profit will be made.
Insisting on promotion of tradition dress making, Joykumar said, Self Help Groups and clusters should work for the promotion of local traditional varieties of cloths and marketing facilities within and outside the state should also be increased. Corpus fund by contributing a little amount of money each by the members of SHGs and Clusters should also be made so that it can be helpful in the hour of need, he added.
Joykumar distributed sanction letters of Rupees 20,000, certificates and sewing machines each to the beneficiaries of three clusters of Imphal East under LEDP on the occasion.
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