TN to form exclusive bank for fishermen

Chennai, April 14 (SocialNews.XYZ) The Tamil Nadu fisheries department is in the process of constituting a bank exclusively for fishermen. Sources in the department told IANS that a committee has been constituted to study the feasibility of forming fisheries cooperative credit societies.

A meeting of high-level officers of the fisheries department was held recently to identify a financial institution for this.

Tamil Nadu minister for fisheries and animal husbandry, Anita R. Radhakrishnan on Wednesday informed the state legislative Assembly that the department is to form an exclusive bank for the fishermen in the state.

The minister said the Chief Minister is keen that a primary cooperative bank be formed exclusively for the fishermen and that this has been a long-pending demand of lakhs of fishermen in the state.

Sources in the government told IANS that the Chief Minister had in interaction with the leaders of the fishermen association during his travel across coastal regions of the state come to know that the fishermen are in dire straits due to overdependence on private lenders. It may be noted that many nationalised banks do not provide loans to fishermen who have to approach them for the purchase of fishing nets, outboard engines, and other materials required for professional mechanised fishing.

With the nationalised banks refusing to provide loans, most of the fishermen find themselves trapped in the loans provided by private lenders.

Tamil Nadu fishermen association leader, J. Jesuadasan while speaking to IANS said, "The government announcing an exclusive bank for fishermen is welcome. The government must initiate proceedings at a faster pace and commence the operations at the earliest. This will be of huge help to the battered fishermen of Tamil Nadu who are in dire straits having fallen prey to the powerful finance sharks and it is turning into an ever ending trap."

Eighty-four fishermen from Tamil Nadu are languishing in Sri Lankan jails after they were apprehended by the Sri Lankan Naval authorities for crossing the International Maritime Boundary Line (IMBL) and venturing into the island nation's waters. The custody of fishermen and their mechanised vessels has led to the families of fishermen falling easy prey to the financial sharks and the announcement of the government of a fishermen's bank is being looked upon in a positive light by the coastal areas of Tamil Nadu.

Source: IANS