THIRUVANANTHAPURAM: Loans to micro, small and medium enterprises are helping the country tide over the economic crisis due to Covid, said Kerala Bank president Gopi Kottamurickal. He was speaking after releasing the bank’s brochure on MSME loans in the food processing sector. The programme aims to revive the unorganised sector of food processing.
Loans up to Rs 60 lakh are sanctioned to ventures planned by individuals, cooperatives, farmer producer organisations, self-help groups and joint liability groups. Subsidy up to Rs 10 lakh or 35 per cent of the loan is available through the Prime Minister Formalisation of Micro Food Processing Enterprises scheme. Interest subsidies from Central and state governments are also available. The Kerala Bank has already released Rs 824 crore in this fiscal under various other loan schemes to finance small-scale ventures.