Kerala - Thiruvananthapuram   

Isaac all praise for Kudumbasree

THIRUVANANTHAPURAM: While the rich are cheating the banks after availing themselves of huge amounts as loans, the neighbourhood groups formed under the initiative of Kudumbasree are making prompt repayment, Finance Minister T.M. Thomas Isaac has said.

Addressing a review meeting of Kudumbasree units here on Sunday, Dr. Isaac said earlier banks were averse to disbursing small amounts as it was impossible for them to trace the details of the loanees. These groups had helped liberate the poor from money-lenders, he said.

The Kudumbasree had become one of the world’s largest self-help groups with 36.5 lakh families, 1.85 lakh units, 17,000 area development societies and 1,058 community development societies. It helped remove misconceptions about micro-financing and had given a new dimension to poverty eradication, he said.

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