(vi) Maternity Loan Scheme
Cooperative credit institutions are issuing maternity loan to pregnant women upto Rs.2000/- at an interest of 11%.
(vii) Professional Loan
The District Central Cooperative Banks are extending professional loan to doctors and engineers upto Rs.10 lakhs at an interest rate of 12% per annum. This loan is repayable over a period of 15 years.
(viii) Interest free share capital loan to SC/ST members
In order to enhance the borrowing power of SC/ST members, interest free share capital loan is provided every year.
It is proposed to continue the same and during the year 2008-09, a sum of Rs.20.00 lakhs will be provided to 8000 SC/ST members in the Primary Agricultural Cooperative Banks @ Rs.250 per member and a sum of Rs.5.00 lakhs will be provided to 1000 SC/ST members of Urban Cooperative Banks @ Rs.500 per member as interest free share capital loan.
(ix) Interest free share capital loan to women members
The borrowing power of the members in the cooperative banks needs to be enhanced. This inevitably requires adequate step up in the share capital. Considering the poor financial condition of the rural women particularly to those belonging to weaker sections, the Government is providing interest free share capital loan as the normal level of borrowing is limited to 20 to 40 times of the share capital investment. This amount is repayable in five installments commencing from the succeeding year in which loan is sanctioned.
It is proposed to extend the scheme of interest free share capital loan to the women members of Primary Agricultural Cooperative Banks, Primary Cooperative Agriculture and Rural Development Banks and Urban Cooperative Banks and physically handicapped persons during 2008 –09 also. Accordingly, it is proposed to issue interest free share capital loan to 2000 women members of Primary Agricultural Cooperative Banks at the rate of Rs. 500/-, five hundred women members of Primary Cooperative Agriculture and Rural Development Banks at the rate of Rs. 1000/- and thousand women members of Cooperative Urban Banks at the rate of Rs. 500/- and 1000 physically handicapped persons at the rate of Rs. 500/- through the above banks. |
