CHENNAI: The Repco Foundation, a sister concern of the Repco Bank, in association with Puthiya Thalaimurai Trust of the S R M group on Wednesday disbursed seed loans worth Rs 1.25 crore to 58 youth Self Help Groups as part of their micro finance programme. Mohan (32), a sculptor from Sivaganga who received the loan, said: “Before I joined the SHG 10 months ago, I used to work as a sculptor on a daily wages for Rs 300. Now, with the help of the SHG, we, are our own bosses. We make Rs 500 a day and also share profits.” Mohanadevi (34), who runs a PCO along with a photocopying shop, said that being part of a SHG had brought in more business ideas and their network had improved a lot. With this seed fund, they were planning to open a hardware shop in their neighbourhood at R A Puram.The Repco Foundation has been working in the field of micro credit by establishing SHGs for the youth, in the age group of 18 to 35.
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