MADURAI: Cooperative banks in Tamil Nadu would make soft loans of Rs 50,000 available to small business owners with family ration cards, Cooperation Minister Sellur K Raju said on Saturday.
Listing efforts to ensure easy access to credit, the Minister, speaking at an event in Madurai, said these loans would be available at a low-interest rate and could be repaid in 350 days, adding that they were targeted at roadside vendors and those running small eateries.
He said that cooperative banks have been providing loans to women self help groups at low interest rates.
"Due to the pandemic, they have also been given relaxation of six months for starting repayment. Similarly, a loan of Rs 3,000 against one gram of gold is being given at an interest rate of 69 paise," he said.
Slamming DMK president MK Stalin, the Minister said the opposition leader should spread awareness about the coronavirus rather than spreading hatred.
He was responding to Stalin's charge that Chief Minister Edappadi Palaniswami was blaming people for spreading the virus instead of taking responsibility.
Quoting researchers, the minister said a person who contracts the infection could spread the virus to hundreds of people. "The Chief Minister had meant that people should be aware of this and should not become transmitters," he said.