Canara Bank's Chennai Circle organised an Education & Rural loans Utsav on last Saturday at Arni. loans were disbursed to beneficiaries from seven districts —Chennai, Tiruvannamalai, Villupuram, Tiruvallur, Kancheepuram, Vellore and Andaman & Nicobar Islands and branches in Puducherry City.
The Bank sanctioned 6,600 Education loans totalling to the tune of Rs 131 crore, 10,000 Agriculture / Self Help Group loans amounting to Rs 25 crore and 2,004 Micro and Small Enterprises loans to the tune of Rs 46 crore. In all, 18,600 loans aggregating Rs 202 crore were sanctioned on the same day.
On the same occasion, as part of Canara Bank's Corporate Social Responsibility (CSR), Chennai Circle donated RO Plant to schools which were devoid of drinking water facility. Further, under the Canara Bank Vidya Jyothi, a CSR initiative undertaken by the Bank, 28 girl students belonging to SC/ST community were provided with free scholarship amounting to Rs 1.10 lakh.
Finance Minster P. Chidambaram graced the occasion and handed over the sanction letters to the beneficiaries and also disbursed the free scholarships under the CSR activity. He underlined the importance of education in the progress of the nation and appreciated the pivotal role Canara bank is playing in granting education loans to the needy and underprivileged children from the lower sections of the society by adopting a very simple and hassle free process.
The function held in the prsence of RK Dubey, Chairman and Managing Director who briefly described the various products of the Bank and efforts of the bank in promoting an all inclusive growth. AK Gupta, Executive Director, GV Manimaran, Director and Rm Meenakshisundaram, General Manager, Chennai Circle also graced the occasion.