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Business Economy

Tripura bank earmarks Rs 3400 Cr for collateral-free loan

Tripura bank earmarks Rs 3400 Cr for collateral-free loan

Agartala, Jul 5 (UNI) To deal with the bailout steps of government in Covid-19 crisis,

Tripura Gramin Bank (TGB) has earmarked Rs 3,400 Cr for the current financial to

disburse as loan for entrepreneurship development in next three quarters, Chairman,

TGB Mahendra Mohan Goswami told media here today.

He said, “The bank has decided to lay emphasis on the income generation sector

and boost up entrepreneurship development in the state and lend the amount as loan

to the potential subscribers. Agri-allied and micro small and medium enterprises have

been given priority. Rs 1,280 crore and Rs 1,300 crore have been earmarked for

these sectors respectively.”

Goswami has announced to sanction loans without any collateral. Even branch heads

are not to ask for the service-holder guarantor in the government-sponsored schemes

like Swavalamban and prime minister’s employment guarantee program up to Rs 10

lakh”. However, the bank will assess the viability of the project before sanctioning.

Goswami said, “Even during Covid pandemic as many as 2,30,970 woman account

holders got the benefit of Pradhan Mantri Graib Kalyan Yojana. An amount of Rs 500

has been transferred directly to those accounts and people are also given the scope

to withdraw it in the lockdown period. The bank has also set an example by standing

beside 187 stressed business units by providing them an emergency fund amounting

to Rs 4.76 crore.”

Tripura Gramin Bank continued to run in profit from 2001-2002, which was started

with a deposit of Rs 2.82 lakh in 1976 and now has a deposit of Rs 7190.50 crore

and the current profit stands at Rs 157.87 crore. The bank has also achieved to fix

the CRAR at 53 percent whereas the RBI suggests it to be at 9 percent minimum.

“We have advised all the commercial bank to ensure collateral-free loans to the

entrepreneurs according to the decision of the central government and the state

would allow any deviation from any bank” warned deputy chief minister holding the

charge of finance Jishnu Dev Varma.


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