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Declare Moratorium on Loans: FM to Banks

The Finance Minister said that Keralites working in countries such as Iraq and Libya had been facing evacuation

Published: 09th August 2014 08:38 AM  |   Last Updated: 09th August 2014 08:38 AM   |  A+A-

THIRUVANANTHAPURAM: Moratorium should be declared on loans taken by Keralites who were working in countries such as Iraq and Libya or those who were forced to leave the countries owing to the tension prevailing there, Finance Minister K M Mani said here on Friday.

He was delivering the keynote address in a special meeting of the State-Level Banker’s Committee here on Friday.

“More than 1,500 Keralites working in countries such as Iraq and Libya had been facing evacuation due to violence and civil disturbance. Many of them had acquired their qualifications by availing of educational loans. They also availed of loans for meeting expenses for their travel. Suitable relief may be given to those working or those who were forced to leave the troubled land, by way of moratorium,” the Minister said.

“In Kerala, there is acute shortage of housing for the eonomically weaker sections. A recent survey has recorded shortage as around 10 lakh dwelling units. Around 5.5 lakh decrepit houses need reconstruction or repair.

Banks may extend maximum support by assisting them through their corporate social responsibility schemes.

Focus should be given for the housing of weaker section such as landless tribals, fishermen, traditional sector workers, among others,” the Minister said.

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