Hindu reports in Mulavkad in Ernakulam in Kerala cooperative banks are providing its members with loans in the wake of the national lockdown.
These are interest free loans and there is moratorium of two months on repayment.
However, Mulavukad Cooperative Bank had to withdraw its scheme of offering a soft loan of ?5,000 each to its members due to the corona virus scare. The scheme had been designed as interest free loans for 12months with no repayment for two months.
The bank has 10,500 members and most of them are daily wagers.
Meanwhile, The Thammanam Service Cooperative Bank has announced a scheme for its members to purchase provision and consumer goods worth ?5,000 from a fair-price shop run by it at Thammanam.
