Policemen will get loan up to 4 lakhs on one application

Bilaspur. Police Welfare Bank is now giving loans up to Rs 4 lakh to its employees and officers. So far 532 people have taken advantage of it for marriage, education, treatment, construction of house and other needs. From SP to constable, 1139 people are share holders of the bank. All 500 rupees are deposited in it every month and they are given up to 8 percent interest. Later, whoever needed it used to take a loan. This bank is operational since 2000. Earlier there was facility to take loan of only Rs 2 lakh from here but it has been increased to Rs 4 lakh. The biggest thing is that in medical emergency this amount is given immediately. The first district of the state where there is a system of giving more money to the people of his department at a low interest rate.

Those in the police department do not get loans from the banks. Be it marriage of one’s son or daughter, construction of a house, education of children, illness or domestic work, one had to wander here and there. Used to take money from usurers. To get rid of this, Bilaspur Police has made a big system. Police Welfare has opened its bank here. At present it has 1138 members who deposit Rs.500-500 every month in this bank. These are deposited only after getting deducted from their salary. Interest also has to be paid in decreasing order.

The police department has started it for financial help. Through the process, loans have been distributed to 532 people from the bank. This bank is a kind of committee, in which the deposit capital of the share holders is given as a loan to the needy soldiers. Till now it has 1338 share holders. He has deposited 1 crore 26 lakh. The loan amount is decided by the committee members keeping in mind the needs of the jawans. The facility of installments is given for the return of the amount.