Through the Chief Minister's Helping Hand Loan Scheme, which is being implemented through Kudumbashree was started from 23 April, Rs 1782.82 crores bank loan has already been provided to Kudumbashree members until now. Also loan applications of Rs 1958.12 crores have been submitted to banks. As per the statistics till 17 August, Rs 1782.82 crores is already received by NHGs as bank loan.1,92,172 NHGs have received loans and a total of 22,37,588 NHG members have received the loan amount.
Chief Minister's Helping Hand Loan Scheme (CMHLS) is the interest free loan scheme launched to extend temporary assistance to those who lost their income during the crisis of covid-19. After the floods of 2018, the Resurgent Kerala Loan Scheme (RKLS) was successfully implemented through Kudumbashree. It is the success of that which led the Government of Kerala to decide to implement the Chief Minister's Helping Hand Loan Scheme (CMHLS) programme through Kudumbashree. The plan was to provide Rs 2000 crores as Interest Free bank Loan.
In the first phase of implementation, discussion was held with the banks and the State Level Bankers Committee (SLBC) expressed their willingness to give loans at 9 % interest. Government agreed to provide interest subsidies to the NHGs. As it is an interest free loan, it was decided to limit the loan to Rs 2000 crores as per the Government decision and the loan limit for CDSs and NHGs were fixed.
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