A large number of cooperative banks are going to participate in a ‘loan mela’ being organized by Karnataka’s govt to help thousands of people who have lost jobs or have their business affected in the wake of Covid-19, reports the New Indian Express.
It will be zero percent interest for loans up to Rs 3 lakh and 3 per cent interest for loans between Rs 3 lakh and Rs 10 lakh. Chief Minister B S Yediyurappa is likely to launch the event.
Street vendors, labourers, women help groups, agriculture labourers, dairy and silk farmers and many others are going to benefit from this loan mela, which is the brainchild of Karnataka Cooperative Minister S T Somashekar.