Madurai

Cooperative societies, banks to give soft loans to small vendors, says Tamil Nadu Minister

Essential goods kits were distributed at a function in Madurai on Saturday

Essential goods kits were distributed at a function in Madurai on Saturday   | Photo Credit: Special Arrangement

Minister Sellur K. Raju said ₹50,000 would be given as personal loans with a low interest rate, and this could be repaid in 350 days

The Tamil Nadu government has proposed to issue micro personal loans to small roadside vendors through Cooperative societies and banks, said Minister for Cooperation Sellur K. Raju here on Saturday.

The Minister was giving away essential goods packs to the residents in the city, in a function organised by the Madurai Corporation Commissioner, S Visakan.

Later speaking to reporters, he said that to help the lowest strata of population, who are into selling wares and run eatery outlets on pavements among other occupations, they would be given ₹50,000, as personal loan. They can repay this in 350 days and the rate of interest is very meagre. After producing their ration card, the advance would be credited to their accounts directly. This would help prevent the poor from approaching private money lenders and also give them hope to stand on their own economically during the COVID-19 pandemic, he said.

Lauding Chief Minister Edappadi K. Palaniswami for his COVID-19 management, he said that the cash relief of ₹1,000 to the card holders had been successfully disbursed through the 36,945 ration outlets in the State. As many as 1.88 crore people had benefited and the rate of success was 98.69 %. Not only the people of Tamil Nadu, but even others in the country, had appreciated the measures, he said.

The Amma Unavagams were serving free food to the needy. Some of the outlets even provided eggs. The objective was to support the downtrodden and those who really required assistance. The distribution of herbal concoctions, vitamin tablets and fruits in a kit bag was to give people a helping hand to overcome the COVID-19 pandemic, Mr. Raju said.

DMK president M K Stalin's accusation against the government and the CM was nothing but politically motivated. “We don't expect him to appreciate the government... but at least, he should realise that the people are satisfied with the functioning of the machinery. Even the petitions received by the DMK don’t say that the public have not received the cash assistance or essential goods through the PDS outlets. Hence, he should remain silent.”

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Printable version | Jul 10, 2020 9:06:04 PM | https://www.thehindu.com/news/cities/Madurai/cooperative-societies-banks-to-give-soft-loans-to-small-vendors-says-tamil-nadu-minister/article31709075.ece

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