Tamil Nadu government to expand cooperative lending under Singapengal Entrepreneurship Credit Scheme
The Tamil Nadu government is expanding its Singapengal Entrepreneurship Credit Scheme to include youth and marginalized communities alongside existing self-help groups. The initiative aims to boost local entrepreneurship through increased cooperative lending targets.
Why it matters
Expanding credit access to marginalized groups is a key policy tool for regional economic development and social inclusion in India.
The Tamil Nadu government has decided to implement the Singapengal Entrepreneurship Credit Scheme by restructuring and broadening the scope of lending through cooperatives to include youth and marginalised sections of society as beneficiaries, apart from members of self-help groups (SHGs), to promote entrepreneurship.
According to sources, the State government has been providing loans to farmers, SHGs, destitute women, widows, and persons with disabilities through cooperative banks and credit societies. On July 2, Chief Minister C. Joseph Vijay chaired a review meeting of the Cooperation Department, during which he instructed officials to increase loans disbursed under the Singapengal Entrepreneurship Credit Scheme by 25% and expand the scheme to cover youth and marginalised sections of society, sources said.
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