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South
artistes to pay off loans
CHENNAI: AT an emergency meeting of the South Indian Artistes’
Association, the artistes decided to repay its outstanding
loans to the State Bank of India, with members themselves
making contributions.
General secretary of the association, Sarath Kumar told pressfolk
here that the association had taken a loan of Rs 20 lakh from
the bank over two decades ago. Together with interest, it
had now become a huge amount running to nearly Rs 4 crore.
The actor said that since the association was a registered
society and non-profit organisation with no generation of
its own funds, it was decided to ’negotiate’ with
the bank authorities to either waive off the interest or reduce
the interest burden, so that the artistes themselves would
pay back the loan. Nearly 200 film artistes attended the meeting
chaired by its recently-elected president Vijaykant.
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