TURA: Meghalaya Rural Bank on Friday kick started the Tiny Home Loans for farmers and members of Self Help Groups (SHGs) at Asimgre Village under Dadenggre in West Garo Hills where for the first time, rural households are being sanctioned loans without collateral security being made mandatory.
The scheme planned by Bakdil is a three or four room RRCC type house with a loan amount ranging between rupees four lakhs and five lakhs. Initially Meghalaya Rural Bank has planned for 20 houses which will be up-scaled gradually.
General Manager of NABARD, F R Marak who was the chief guest on the occasion lauded Bakdil promoted Chijanggi Producer Organisation for daring to take up the implementation of the Housing Scheme. He thanked the bank for designing the scheme according to the conditions of the local people in Meghalaya and also lauded the efforts of Bakdil in improving credit flow to the farmers not only in Dadenggre but in the entire Garo Hills as a whole. The Regional Manager, Meghalaya Rural Bank told stakeholders particularly those who were sanctioned loans to be honest in repaying the same and set an example for the entire people of Meghalaya.
Tura Bishop, Andrew Marak praised the efforts of Bakdil Director, Father Sunny Joseph Mavelil under whom the idea of collateral free housing loan was initially conceptualized.
Among others who also spoke on the occasion was Bakdil Director, Fr Sunny Joseph Mavelil.
