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SHGs in GHMC must open Savings Bank A/c
GHMC Commissioner Dr B. Janardhan Reddy on Wednesday said all members of Self-Help Groups in Greater Hyderabad, who have no savings account in the banks, would be made to open savings accounts in the near future.
Hyderabad: GHMC Commissioner Dr B. Janardhan Reddy on Wednesday said all members of Self-Help Groups in Greater Hyderabad, who have no savings account in the banks, would be made to open savings accounts in the near future.
The initiative has been taken by the GHMC to minimise problems in the wake of demonetisation of old notes. In this context, the Commissioner held a meeting with all the bankers, representatives of various Self Help Groups along with the senior officials of the UCD wing of the GHMC Head Office on Wednesday.
The Commissioner said the GHMC has some five lakh Self Help Groups members and with the help of the bankers they would provide loans through e-payment literacy drive.
In the current financial year, the GHMC has disbursed loans to the tune of Rs 171 crores to the members of 5,983 groups.
“This is first of its kind in the country and the GHMC is the only Corporation in the country to take up such an innovative scheme for the needy and poor as a financial assistance and support.
The Commissioner said at the moment the bankers are very busy with the transactions due to the demonetisation and whenever time permits, the GHMC would make Self Help Groups in the GHMC limits open savings accounts in the near future.
Bhaskara Chary, Additional Commissioner (UCD), senior officials from various banks and representatives from various Self Help Groups attended the meeting.
