NRKs allege denial of loans by banks

Legislative panel holds sitting in city

June 16, 2017 01:06 am | Updated 01:06 am IST - KOCHI

Denial of loans by nationalised banks to non-resident Keralites intending to start enterprises, construct houses or continue studies will be strictly examined, NoRKA-Roots chief executive K.N. Raghavan told the legislative committee on NRKs that held a sitting here on Thursday.

Organisations of NRKs and individuals complained to the committee that banks turned down loan requests giving flimsy reasons. Mr. Raghavan said banks were being given a subsidy of 15% by the government. “Applicants whose requests are turned down by banks should approach NoRKA for immediate remedy,” he said.

Further, permission has been granted to cooperative banks and district, primary cooperatives to offer loans to NRKs.

More cooperatives will be roped in soon.

Mr. Raghavan also said that applications for NoRKA registration cards would be made online in a month.

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