NEWS & ADVICE : PERSONAL LOAN
Jharkhand to take strict action if loans not sanctioned to unemployed youth
By Vaibhav Aggarwal
Mar 17, 2010
Print    Email    RSS   

Banks have received warning against strict action that would be taken if they do not sanction loans to unemployed youth under the Prime Minister's Employment Generation Programme (PMEGP). The warning has been generated by Jharkhand Deputy Chief Minister, Shri Raghubar Das.

Prime Minister's Employment Generation Programme (PMEGP) is a credit linked subsidy program that has been approved by the Government of India. The scheme has been developed by the merger of two previously existent schemes namely Prime Minister's Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP). The program aims at providing employment opportunities to the jobless youth by establishing micro enterprises in rural as well as urban areas.

'It is well known that the banks do not disburse money to unemployed youth under the PMEGP. Suitable action will be taken if the banks do not improve the disbursing of loan system to unemployed youth,' Das said during the state assembly session.

He also said that the Government officials have had talks on this issue with SBI officials twice this year wherein the bank has been asked to improvise its lending system.

The PMEGP allows unemployed youth to avail loans up to Rs. 1 lakh for self employment purposes.

The issue was brought up by Jharkhand Vikas Morcha-Prajanatantrik (JVM-P) member Pradeep Yadav, who said that banks do not meet targets set under the various schemes for loan disbursement to the unemployed youth and that the banks are ‘indifferent' to such cases.

Assembly Speaker C.P. Singh asked Das to take up the issue with the union finance minister to improve the loan disbursals.

 


(Comments Posted : 2) Post Your Comments
1. sir,mai ek footwear retailer hu maine jila udhyog kendra se loan ke liye apply kiya tha mera loan sanction bhi ho gaya tha gaya tha lekin bank manager ne mujhse puche sbaggar mera paper wapas jila udhyog kendra bhej diye aap bataiye mai kya kru please help me sir vananachal gramin bank jasidih jamm jjmdd jk ttjxggaapqpqpqpqg
sandip kumar (Posted: Feb 28, 2013)
2. whom to complain if bank does not give pmegp loan and harass only
shyam (Posted: Feb 6, 2012)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Loan upper limit increased for women
Bank loans that could glitter for you
How to decide on a loan for business?
What to look for while taking a personal loan
This is how a bank lends money


Do you need a loan without stress then contact us...
balance dues
My loan was rejected and my name was added to civil...
MY PAN CARD AEAPA6099R HOW TO CKECK PERSONNEL LOAN...
I want to know weather my name is listed in cibil...

NEWS THIS WEEK
Karnataka Bank tied up with NBHC to help farmers Aug 22, 2014
HDFC bank topped the most valuable brand list Aug 20, 2014
Now 3 free transactions from non home ATMs will be allowed Aug 19, 2014
Exciting Independence Day offers by the banks Aug 14, 2014
New Corp Excel Branch in Jeppu Aug 13, 2014
News Archive