Madurai: Tamilnadu Cooperation Minister Sellur K Raju has said the State government proposes to issue Rs 50,000 as micro personal loans to small roadside vendors, who were affected by the coronavirus lockdown, through
cooperative societies and banks.
Speaking after distributing essentials to people at a function here, he said Rs 50,000 would be given as personal loan to help the lowest strata of population, who were into selling wares and running eatery outlets on pavements among other occupations.
He said the loans to be given with meagre rate of interest by producing their ration cards, could be repaid in 350 days. After producing their ration card, the loan would be credited to their bank 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 effive steps in COVID-19 management, he said the cash assistance of Rs 1,000 to the card holders had been successfully disbursed through the 36,945 ration outlets in the State. Nearly 1.88 crore people had benefited and the success rate was 98.69 per cent.