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Bhavanasree loans to be waived

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From the grassroots:Finance Minister T. M. Thomas Isaac addresses a gathering of representatives of Community Development Societies of the Kudumbasree Mission from all over the State at a meeting in Kochi on Tuesday.
From the grassroots:Finance Minister T. M. Thomas Isaac addresses a gathering of representatives of Community Development Societies of the Kudumbasree Mission from all over the State at a meeting in Kochi on Tuesday.

Staff Reporter

12th anniversary celebrations of Kudumbasree Mission held in Kochi

KOCHI: The State government will write off the remaining portion of the loans taken by the beneficiaries of the Bhavanasree housing programme under the Kudumbasree poverty eradication mission, Finance Minister T.M. Thomas Isaac said here on Tuesday.

Speaking at the inauguration of the 12 {+t} {+h} anniversary celebrations of the Kudumbasree mission, the Minister, however, did not specify the amount involved or mention the number of beneficiaries.

Kudumbasree mission sources told The Hindu that the amount would come to about Rs.160 crore and the number of beneficiaries, about 40,000. The beneficiaries have taken loans totalling around Rs.200 crore.

Dr. Isaac announced that bulk loans in linkage banking under the Kudumbasree mission would now qualify for a subsidised interest of 4 per cent.

He set a target of Rs.1,000 crore in linkage banking over the next two years. The current level of linkage loan is Rs.994 crore.

The Minister's announcements were received with applauds by thousands of Kudumbasree members.

Handbook

Dr. Isaac released a handbook on banking literacy, prepared by a micro-finance team of the Kudumbasree women, on the occasion.

Speaker K. Radhakrishnan, who inaugurated the celebrations, said the mission proved that women were capable of handling both money and position of power with great results.

Local Administration Minister Paloli Mohammed Kutty, who presided, said no ideological debate had marred the progress of the mission. The process of running the mission had been transparent, he added.

Transport Minister Jose Thettayil lauded the mission for the achievements it had made in the empowerment of women.

Union Minister of State for Agriculture K. V. Thomas launched ‘Pineshree,' a new brand of pineapple drink from the mission. Prof. Thomas said Kerala needed to learn from countries such as Malaysia and Sri Lanka in packaging products.

M.M. Monaye and A.M. Yousef, MLAs; K.P. Dhanapalan, MP; and Smitha Gopi, chairperson, Aluva municipality, were among those who spoke. District panchayat president P. S. Shyla welcomed the gathering. K. K. Ravi, district mission coordinator, Kudumbasree, proposed a vote of thanks.

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