Mizo Students Union demands closute of Banks

Aizawl, 5 May: Some commercial banks operating in Mizoram, drew flak from the Mizo Students’ Union, which alleged that the banks refused to give loans and utilize 2 percent of its deposit amount as Corporate Social Responsibility.

PC Lalrinhlua, president of the Mizo Student’s Union (MSU) said that the student body wants the closure of some private and nationalized banks for apparently refusing to co-operate with the natives and extend Prime Minister’s Employment Generation Programme (PMGP) loan to them especially to the student community.

Rinhlua said that some commercial banks refused to extend the PMEGP loan and failed to achieve the target set by Mizoram’s Khadi Village Industries Commission (KVIC) since 2013. The achievement of commercial banks especially Yes Bank, Indusland Bank, Syndicate Bank, Punjab and Sind Bank, South Indian Bank in terms of extending PMEGP loan drew blank during 2015-16 financial year.

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