Beltangadi:An agreement has been entered into with Karnataka Bank to provide necessary progress fund loans to self-help societies sponsored by Sri Kshetra Dharmasthal Village Development Yojana in Hassan district. Deacon signed the agreement today at Dharmasthala. In the presence of D. Virendra Heggade and Managing Director and Chief Executive Officer of Karnataka Bank Mahabaleshwar M.S., Chief Executive Officer of the project Dr. L.H. Manjunath exchanged a letter of agreement with Ravichandram, Chief Executive Officer of the Bank.
Under this agreement Karnataka Bank will pay Rs. 1,000 crore financial assistance has been announced for self-help societies in Hassan district. On the same occasion, Rs. 48 lakhs was released. The Rural Development Scheme will act as Bank Assistant (BC/BF) for this programme, which will be managed in a fully technology based system. Presently Dharmasthala Village Development Scheme has created 26,000 Self Help Sanghs in Hassan district and the account of these Sanghs will be opened in Karnataka Bank. In the first phase each association will receive Rs. 5 lakh financial assistance will be provided. For the gradually strengthened associations Rs. A resolution to provide financial assistance up to 20 lakhs has been incorporated in the MoU.
Assistant General Managers of Karnataka Bank Vasanth Kumar and Dennis and other senior officers, Project Chief Operating Officer Anil Kumar, Chief Financial Officers Shantaram R. Pai, Janardhan, Managing Director of Sri Dharmasthala Siri Gramodyoga Sansthan was there
