Tamil Nadu chief minister J Jayalalithaa has announced a scheme under which Rs 5,000 will be given to the rain and flood affected pavement entrepreneurs in the state as interest free loans through cooperative banks, reports Times of India.
These petty traders include sellers of vegetables, flowers, fruits and other commodities. They need to repay Rs 200 per week for 25 weeks and the 11% interest on these loans will be paid to the banks by the government, official sources say.
Vendors in Chennai, Kancheepuram, Cuddalore, Tiruvallur and Tuticorin districts are eligible to receive loan under the scheme.
Camps will be organized at places and vendors could contact bank officials in these camps and submit applications for loans, a source is quoted as saying.
