Shri M. Balachandran, Chairman & Managing Director, Bank of India launched the adoption of 4 villages in Thiruvallur District, Tamil Nadu, as a part of Bank's mega project for integrated development of 101 villages to be showcased as model villages during the Centenary year of the Bank.  The Bank adopted Thokkamur, Koduveli, Mambakkam and Thervai villages.

The Bank desires that economic development of the villages should not be stopped for want of credit facilities. The financial/credit outlay planned for the next 3 years for the economic development of these villages would be to the extent of Rs.14 crores. Of this, the first year's lending would be to the tune of Rs.5 crores. The Bank has plans to provide financial assistance for dairy development, small road transport operations, solar lighting system, crop loans for all eligible farmers and also for the following activities :

Establishment of milk processing and milk product manufacturing units.
Toor Dal, Rice processing units.
Establishment of cattle feed manufacturing unit.
Oil extraction and soap manufacturing activities.
Land development and minor irrigation.

The Bank has undertaken household survey of each of the households of these villages and has identified both technically and economically viable activities with the assistance of NGOs.  With a view to improve the quality of life in these villages, the bank has also introduced a scheme for providing a modern sanitary facility to each of the households.

The occasion was also graced by Shri K.R. Kamath, Executive Director of the Bank and also by Shri R.Ilango, Managing Trustee, Trust for Village Self Governance.  The Bank, which has global presence has initiated lot of activities to discharge its Corporate Social Responsibility as a part of its Centenary celebrations.

Sourced From: Pressman India PR