Kerala Loan Scheme 2018 – The State Government of Kerala is going to launch an ambitious micro-finance programme (Kerala Loan Scheme 2018) in the co-operative sector for helping people, who were exploited by the private financiers which are charging excessive interest rates for loans.
Kerala Loan Scheme 2018
The Co-Operation and Tourism Minister Kadakampally Surendran said that the initiative is to help ordinary people who are being exploited by private financiers charging exorbitant interest rates for loans.
He further said that the Co-operative banks would launch the proposed scheme named ‘Kerala Muttathe Mulla Scheme’, with the support of women neighborhood network – ‘Kudumbashree,’ he said.
The Cooperative banks of Kerala State will provide micro-finance loans to ‘Kudumbashree’ at an interest rate of seven percent, which members of the neighborhood network can avail at an interest rate of 12 percent.
Minister pointed out that many private money lenders were charging 37-72 percent interest for micro-finance loans.
He also added that the Kerala Government is going to launch the first phase in northern Palakkad district on June 29.
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