Thiruvananthapuram: Chief Minister Pinarayi Vijayan has said that KSFE will launch a gold loan scheme of up to Rs 1 lakh for assisting the expatriates returning Kerala due to Covid. The interest rate for the first 4 months of the tenure would be 3%. CM added that further then, it would be charged to normal rates.
NRK’s returning to Kerala after suffering job loss can avail the loan, provided that they possess NORKA ID. Pravasi Chitti members can avail loan amount up to Rs. 1.5 Lakh; for gold loans, up to Rs. 10,000, the interest rates have been slashed by 1 percent to 8.5%. People, who own small scale businesses, can avail a loan amount of Rs. 1 Lakh, with duration of 24 months. The interest rate would be 11.5% in a daily diminishing manner. Those who submit FD Bank Guarantee and Gold Guarantees, can avail loans at 10.5% interest rate.
Chief Minister said that a group loan scheme would be implemented for a period of 2 years for those who are engaged in businesses. Comprising of 20 people in each group, everyone has to pay a fixed amount every month. After four months, the loan amount would be disbursed in advance for the needy group members. Providing relief to the debt defaulters, all revenue recovery proceedings will be suspended until June 30. The pending mitigation plans announced in 2019-20 were extended to June 30.
