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Along with cracking down on the illegal money lending business under Operation 'Kubera', Kerala government has come out with a loan scheme for those indebted.
Announcing the scheme, Home Minister Ramesh Chennithala today said a loan up to Rs 50,000 would be made available to the indebted people to help them repay loans taken from money lenders, non-banking financial institutions and loan sharks.
The scheme to be implemented through banks was worked out at the State Level Banker's meeting held recently. "The objective is to provide some relief to poor people," he said.
Condition for getting the loan under the scheme would be very simple and it has to be repaid in five years time, he said.
Making it clear that Operation Kubera would continue and stern action would be taken against illegal money lenders, he said a total of 586 persons, indulging in illegal money lending business and charging exorbitant interest rates from borrowers, have been taken into custody so far since the operation started a week ago.
Giving detials of the operation, he said 7,234 raids were conducted and 1,072 cases registered. Besides, Rs 3.47 crore cash, foreign currencies, gold and land documents were seized during the raids on money lenders.
Government stepped up action against private money lenders popularily known as 'blade mafia' following the recent suicide of five members of a family due to indebtedness and threat from goons engaged by money lenders.
