THIRUVANANTHAPURAM: The Kerala State Backward Castes Development Corporation will launch loan schemes worth Rs 650 crore in the wake of Covid-19. Entrepreneurs, who lost income during the lockdown, will get loans up to Rs 5 lakh at 6 per cent annual interest rate. Women entrepreneurs in the other backward classes (OBC) category will get loans up to Rs 2 lakh for agriculture, fish farming, poultry farm, cow and goat rearing. The annual interest rate is fixed at 5 per cent.
The loans issued to Community Development Societies under the micro-credit scheme and the Mahila Samriddhi Yojana will be increased from Rs 2 crore to Rs 3 crore. The annual interest rate is 3 per cent to 4 per cent. The Corporation already has announced a rehabilitation programme for expatriates who lose job and had to return to the state. They will get up to Rs 20 lakh at 6 to 8 per cent interest rate. Those who make prompt repayment need to return only Rs 18.5 lakh.