NEWS & ADVICE : HOME LOANS
Banks in Kerala launched debt swap scheme
By Joseph Samson
Jun 27, 2014
Print    Email    RSS   

In order to free up the victims of the private money lenders, Banks in Kerala are launching a debt swap scheme named ‘ Wrina Mukthi’ . Due to the increase in suicides and related incidents by the victims of the private money lenders, banks have decided to come up with this measure and help them.

It has been reported that the private money lenders were charging high interest rates from the people, making it impossible for them to repay back the loan amount. To discuss this a meeting was held last day, and it was announced there that banks should organize camps and create awareness among the people regarding this.

Under the scheme an average rate of 10.25% will b there of all the banks. Loans of up to Rs. 50,000 lent to farmers and artisans would be acquired under this scheme, and would be repayable over a period of three to five years. It was also informed that a different portal for monitoring agricultural loans sanctioned in the State will also be established.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
12 point conduct checklist for bank and...
Home loan rates likely to remain stable
How to go about ‘Leveraged Investing’
Complete Guide to the Home Loan Process in...
Carnival of Indian Personal Finance Blogs #1


my home loan A/C is 33019926786. want to view status...
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive