Cooperatives and banks give low-interest loans to small providers, says the Tamil Nadu minister

Minister Sellur K. Raju said £50,000 would be given out as a low-interest personal loan and could be repaid in 350 days

The Tamil Nadu government has proposed providing small personal loans to small street vendors through cooperatives and banks, Cooperation Minister Sellur K. Raju said here on Saturday.

The minister gave away important bundles of goods to residents of the city at an event organized by Madurai Corporation Commissioner S. Visakan.

Speaking to reporters later, he said to help the poor, who sell goods and run sidewalk restaurants, among other things, they would be given £50,000 in personal loans. You can repay this in 350 days and the interest rate is very meager. After presentation of the ration card, the advance would be credited directly to the account. This would help prevent the poor from turning to private moneylenders and also give them hope to be economically self-sufficient during the COVID-19 pandemic, he said.

He commended Chief Minister Edappadi K. Palaniswami for his COVID-19 management and said the £1,000 cash relief to cardholders had been successfully disbursed through the state’s 36,945 ration offices. No fewer than 1.88 million people had benefited and the success rate was 98.69%. Not only the people of Tamil Nadu but also others in the country have welcomed the measures, he said.

The Amma Unavagams served free food to the needy. Some of the outlets even offered eggs. The aim was to support the oppressed and those who really needed help. Distributing herbal concoctions, vitamin pills and fruits in a kit bag should help people overcome the COVID-19 pandemic, Mr Raju said.

DMK President MK Stalin’s accusation against the government and the CM was purely politically motivated. “We don’t expect him to appreciate the government… but at the very least he should recognize that the people are content with the workings of the machinery. The submissions received by the DMK also do not indicate that the population did not receive the cash assistance or essential goods through the PDS sales outlets. Therefore he should be silent.”

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