CNM Business Correspondent
As part of the state government’s 100 days action plan program, Kerala Bank branches will disburse loans to create new jobs.
Kerala Bank Kozhikode Regional General Manager KP Ajayakumar said that all types of loans, including MSMEs for Entrepreneurs and Long Term Agricultural Loans for Farmers, will be disbursed to eligible applicants as soon as possible.
A maximum of Rs 60 lakh will be sanctioned to individuals and up to Rs 1 crore to companies for setting up and expanding small and medium enterprises in the manufacturing, commercial and service sectors at an interest rate of 8.75 per cent. Long-term agricultural loans of up to Rs. 60 lakhs for agro-agro-based enterprises up to 15 years, up to Rs. 24 lakhs for expatriate enterprises up to Rs.10 lakh for Pravasi Kiran,Kudumbashree, and SHG categories also will be sanctioned.
Long-term agricultural loans of up to `60 lakh for agro-agro-based enterprises up to a period of 15 years, up to` 24 lakh for expatriate enterprises up to Rs.10 lakh and a special loan up to Rs.60 lakh is introduced for pine apple farmers-said KP Ajayakumar.