Hindu reports PACS in Kerala have begun offering gold and interest-free loans across the State with a view to meeting the economic difficulties created by the coronavirus.
The Kanayannoor Taluk Cooperative Agriculture Village Development Bank in Kochi is one of the cooperative bodies that has already begun the gold loan scheme.
The bank will offer 80% of the value of gold as loan amount for an interest rate of 10% for one year.
Sources say, there are many Pacs and cooperative banks that are offering special loans in the wake of the corona outbreak.