10. People’s Bank (Sangamam)

For ensuring the economic growth of the people, the established groups in the target area of KMSSS have given their share towards deposit for building common fund for ‘people’s bank’.  Based on the amount of deposits contributed by each group they avail themselves of a loan and find growth development in their life.  This loan is being profitably utilized for income generation activities such as purchase of milch-animal, goat, agricultural activities house modification and improvement, micro level activities of petty shop etc. Through a low interest of 1% all the members are gaining benefit.  Similarly the beneficiary members also pay a low interest comparing their area financier’s rate of interest.  The formalities are simple, only being a member in group one can avail himself/herself of a loan for emergency also.

Growth Status of deposits and organization Assistance in People’s Bank:

No.
Union Name
No. of Groups
Groups Deposit
Rs.
Organization Fund in Rs.
1.
Kumbakonam
55
7,75,000
1,65,000
2.
Thiruvidaimarudur
66
7,90,000
3,37,000
3.
Thiruppanandhal
29
2,40,000
1,50,000
4.
Thiruvaiyaru
22
2,80,000
2,00,000
5.
Budalur
7
95,000
--
6.
Papanasam
16
1,60,000
--
7.
Ariyalur
28
2,30,000
--
8.
T.Palur
28
5,05,000
2,00,000
9.
Jayankondam
20
2,00,000
1,50,000
10.
Andimadam
62
1,09,90,000
--
11.
Thirumanur
19
1,70,000
1,50,000
12.
Vaigarai (Disabled)
19
95,000
1,00,000