Medical aid and risk fund instituted by the Kerala State Cooperative Development Welfare Board for borrowers from Ernakulam district will be distributed here on December 21 by Cooperation Minister Kadakampally Surendran at a function to be organised at the headquarters of the Ernakulam District Cooperative Bank, Kakkanad. The programme was scheduled to start at 2 p.m., said a press release here.
The Cooperative Development Welfare Board was launched in December, 2000. Risk fund and medical aid for borrowers were distributed from 2009. Risk fund is raised through the one-time money realised from borrowers.
The beneficiary borrower was entitled to a relief of ₹1.5 lakh plus interest as relief in the bank borrowing, the press release added.
The medical aid programme was launched in 2012. If a borrower is afflicted by a serious disease, the borrower is entitled to ₹75,000 under the scheme. Between 2009 and 2017, a total of 38,921 applicants have been given a total benefit of ₹269.87 crore under the two schemes.
