The Hindu : Kerala / Thiruvananthapuram News : Easy loans for the disabled

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Sunday, Aug 05, 2007
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Kerala

Kerala - Thiruvananthapuram

Easy loans for the disabled

Thiruvananthapuram: The Kerala State Handicapped Persons’ Welfare Corporation will extend loans to physically challenged persons to start income generation activities, Irrigation Minister N.K. Premachandran said here on Saturday.

The Minister was inaugurating a one-day seminar on micro-finance scheme for disabled persons. The Corporation is the coordinating agency in the State for the National Handicapped Finance and Development Corporation. Disabled persons can avail up to Rs. 25,000 as loan at a minimum per annum interest rate of five per cent. The loan can be given to the same person repeatedly subject to certain conditions, including repayment of earlier loan amounts. An Indian citizen with 40 per cent or more disability could apply for the loan.

The Corporation will provide credit through NGOs in rural and urban areas. It will further finance beneficiaries either directly or through self-help groups. The office-bearers of NGOs interested in joining the micro-financing scheme should not be elected members of any political party.

Most of the physically challenged persons are constantly in need of small loans for augmenting their income. Their requirement can be met only by quickly processing loans and making it available to them at their door step. The gap that persists in meeting the credit needs of the poor should be bridged. Several nationalised banks have come up with micro-finance programmes for the poor.

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