Discriminatory Loan – Minorities can avail loan with 2% interest without any guarantee in Kerala

Kozhikode: Keeping in line with the extra privileges granted by the state government towards members of minority community, as part of its appeasement policy. The Kerala State Minority Financial Corporation has announced that those of minority community will be eligible for loans upto rupees twenty five lakhs, without any guarantee. The project will be implemented under the provision of Micro Credit Loan scheme.

The special privileges are being extended “for any scheme that would generate income or initiate various business” and are said to be “intended to steer those belonging to those of society’s lower rung, to the world of businesses.”

The government has given a meager 2% interest on loans upto rupees twenty five lakhs, for a period of three years. The corporation is also said to have invited applications for various projects.

Among other incentives offered are that the loans don’t require gaurantee; provision of minimum amount in a short span of time, along with evasion of basic official processes; non- requirement of any personal guarantees, etc

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