The biggest natural disaster in Kerala was happened during August 2018. Lakhs of people have faced huge loss in the disaster. The Government of Kerala had announced the interest free loan facility for flood affected families named as Resurgent Kerala Loan Scheme. The Resurgent Kerala Loan Scheme is aimed to provide immediate financial support to regain the life and livelihood and to hold and pacify those who stands in misery along with the loss of this state followed by impact of the worst natural disaster faced by Kerala.
The Executive Director, Kudumbashree Mission was authorized to facilitate the bank loan as per the RKL Scheme up to Rs 1 lakh to family head for the purchase of domestic appliances and other purposes. As per the scheme, the beneficiaries may buy utensils from the registered dealers in 40-50 % discount from the market rates. The selected companies have made necessary arrangements to make avail the utensils, products to the beneficiaries in discounted rates through their accredited dealers/ stockists in each districts.
Interested Kudumbashree members who are the beneficiaries of the State Government grant of Rs.10000 are eligible to get bank Loans upto Rs.1 lakh and the interest of the loan at 9% will be borne by the government and applicant should be a member of Kudumbashree Mission was the eligibility criteria. This scheme was implemented as a Kudumbashree loan. As per the scheme, maximum of Rs 1 lakh is given to one Kudumbashree member. The applicant should be a member of the Kudumbashree Mission and the repayment period is fixed as 36-48 months. The loan repayment installments is arranged in a step up mode in NHGs. A total of 1,42,715 Kudumbashree members have submitted applications in the CDS through 21,204 NHGs which have been submitted to the bank. So far the banks have sanctioned loan for 9039 NHGs which consist of 58,871 beneficiaries. Under this scheme Rs.463 crores has been sanctioned so far.
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