Malco Women Empowerment Project

SALEM, India - July 25, 2013 - PRLog -- The Madras Aluminium Company Ltd (MALCO) a unit of Vedanta Group has arranged Loan Distribution Function for Women Self Help Groups in association with Kadayampatti Vattara Pengal Munnetra Nala Sangam (KVPMNS) with help of NABARD Financial Services Limited & Vijaya Bank, PN Patty Branch.

The gesture was made under the company’s Corporate Social Responsibility (CSR) programme, which according to the company officials focuses on improving community welfare through various programs like education, health, infrastructure, women empowerment, livelihood and environment.

As a part of its social initiatives, it has been underlining the empowerment of rural women, who live around the company. These women are united as one under the self-help groups (SHGs), where the company provides them various skill development programs to make them successful micro enterprises.

Malco has partnered with the NGO Kadayampatti Vattara Pengal Munnetra Nala Sangam (KVPMNS) for more focuses in the women empowerment program under the company CSR activity. The SHGs are linked with NABFINS for the financial assistance and development. In line with the development of women SHG members, NABFINS provided as a loan of Rs. 7.20 Lakhs to 54 Malco SHG members at Malco Recreation Club on 24.07.2013.

Mr. Govindasamy, Salem District Manager of NABFINS handed over the loan Rs. 7.20 Lakhs to 54 Malco SHG members in the presence of Malco officials Mr R Kandasamy, Head Human Resources & Mr K Kathiresan, Head Power Plant and the officials from partnering NGO Kadayampatti Vattara Pengal Munnetra Nala Sangam (KVPMNS).

Followed by that, Vijaya Bank, PN Patty Branch has provided SHG loan of Rs. 4.80 Lakhs (Along with Subsidy) to 98 Malco SHG members at Vijaya Bank on 25.07.2013.

The loan was distributed by Mr Rajendran, DGM - Vijaya Bank, Coimbatore Region in the presence of Mr Surya Narayanan - Manager, Vijaya Bank, Mr R Kandasamy - Head HR & Vijaya Bank Officials.