business

Vijay launches ₹1,110-crore bank credit linkages for 9,000 SHGs in Erode

Vijay launches ₹1,110-crore bank credit linkages for 9,000 SHGs in Erode

This is part of a State-wide initiative to extend ₹3,000 crore in bank credit to 26,000 SHGs to promote women’s entrepreneurship. The Chief Minister also distributes livelihood assistance and issues sanction orders for skill development programmes

Chief Minister C. Joseph Vijay handing over a cheque to women’s self-help group members at a function held at Perundurai in Erode district on Tuesday (November 3, 2026).

Chief Minister C. Joseph Vijay on Tuesday (November 3, 2026) launched bank credit linkages, worth ₹1,110 crore, for 9,000 women’s self-help groups (SHGs) at Perundurai in Erode district. The disbursement is part of a State-wide initiative to extend ₹3,000 crore in bank credit to 26,000 SHGs to promote women’s entrepreneurship.

At a function organised by the Tamil Nadu Corporation for Development of Women (TNCDW) under the Rural Development and Panchayat Raj Department at a private marriage hall, Mr. Vijay also distributed livelihood assistance and issued sanction orders for skill development programmes for youth and marketing outlets for SHG products. The benefits included community investment, vulnerability reduction, and community enterprise funds, besides financial support for farm and non-farm livelihood clusters and rural livelihood transportation initiatives. He did not address the gathering.

Mr. Vijay also visited a photo exhibition, titled ‘40 Years of Women’s Empowerment in Tamil Nadu’, with the theme, ‘One Root, Countless Enterprises’, showcasing the achievements of SHGs. During his interaction with members at the product stalls, they presented him with wooden artwork featuring his portrait and bedsheets bearing his image. He purchased a few products and paid for them in cash.

The function began with a welcome address by Minister for Rural Development and Water Resources N. Anand, followed by an audio-visual presentation on the activities and achievements of SHGs in the State. Subsequently, 105 SHG office-bearers received cheques and sanction orders from Mr. Vijay, who was dressed in a traditional silk dhoti and shirt. They posed for photographs with him and exchanged heart and thumbs-up gestures.

Principal Secretary to the Rural Development and Panchayat Raj Department Dharmendra Pratap Yadav proposed a vote of thanks. Ministers K.G. Arunraj, K.A. Sengottaiyan, V. Sampath Kumar, M. Vijay Balaji and C. Vijayalakshmi; MLAs; TNCDW Managing Director M. Aarthi; and Collector S. Kandasamy were present at the function.

Earlier in the morning, Mr. Vijay arrived in Coimbatore from Chennai by a special aircraft and proceeded to Perundurai by road. His visit included a 20-km roadshow from the Chengapalli flyover to the venue, with several stops along the route. Large crowds lined both sides of the road to catch a glimpse of the Chief Minister. Children, women of different age groups, and men gathered in large numbers, waving and cheering as Mr. Vijay passed, standing atop his vehicle. Receptions were organised at seven locations, where party functionaries and members of the public welcomed him.

More than 4,500 police personnel drawn from Erode and neighbouring districts were deployed for security during the Chief Minister’s visit. Barricades were erected along the route, and police personnel were posted to regulate traffic and maintain security.

Erode / Tamil Nadu / development / government aid

  • crore
  • bank
  • credit
  • vijay
  • shg
  • erode
  • linkage
  • state

Summaries and tags are generated automatically. Stay informed with VidiaNews.

Related news

Bamboo shelters, cool roofs to climate-proof Telangana cities
science

Bamboo shelters, cool roofs to climate-proof Telangana cities

The State is drawing up a ₹20,000-crore project pipeline and a series of policy measures to prepare its cities for rising temperatures and erratic rainfall. The plan, which also includes waste reclamation, sewage treatment and digital monitoring of water supply, seeks to build climate resilience across urban local bodies

Read →
CBN updates guidelines for stablecoins operation
business

CBN updates guidelines for stablecoins operation

According to the bank, “A Class 1 Licensed Issuer shall maintain paid-up capital of N10 billion Naira or such higher amount as the Bank may prescribe, on entry and at all times thereafter. To avert it from being used for money laundering on terrorism financing, the CBN said “A provider shall maintain criteria, approved by its board and notified to the Bank, for identifying a customer that buys, sells or exchanges Regulated Tokens on the Person-to-Person (P2P) Service as a business, having regard to transaction volume, frequency, number of counterparties and advertising of rates.

Read →
CBN sets N10bn, N15bn capital requirements for stablecoin issuers
business

CBN sets N10bn, N15bn capital requirements for stablecoin issuers

The Central Bank of Nigeria (CBN) has introduced new regulatory guidelines for stablecoin issuers and other virtual asset service providers, setting minimum paid-up capital requirements of N10 billion and N15 billion for two categories of operators. Under the new guidelines, Class 1 licensed issuers, covering naira-referenced stablecoins, are required to maintain a minimum paid-up capital of N10 billion, while Class 2 issuers, covering foreign currency-referenced stablecoins, must maintain N15 billion.

Read →
Nigeria’s External Debt Hits $145bn As Servicing Burden Rises — World Bank
business

Nigeria’s External Debt Hits $145bn As Servicing Burden Rises — World Bank

The World Bank’s International Development Association (IDA) accounted for $18.533 billion of the multilateral debt, while IMF Special Drawing Rights allocations stood at $5.516 billion. Despite the increase in the debt stock, Nigeria recorded improvements in two key debt indicators, with external debt relative to exports declining by 4.3 per cent to 212 per cent, while the debt-to-Gross National Income ratio fell by 6.6 per cent to 51 per cent.

Read →