KSWDC to Provide Loans for women’s due to NITAQAT Policy of Saudi Arabia

April 6 2013
Thiruvananthapuram

The Kerala State Women’s Development Corporation (KSWDC) has come forward to lend a helping hand to poor women from distraught expatriate families, forced to leave Saudi Arabia in the wake of strict enforcement of Nitaqat.The Corporation is planning self-employment loan schemes for such women who have lost their jobs in the process.

According to the scheme, drawn up by the Corporation, self-employment loans of Rs 1 lakh each, with 6 per cent simple interim interest and a five-year repayment term, will be sanctioned.“Rs 5 crore has been earmarked in the fist quarter of the fiscal itself for the scheme, while the total outlay has been put at Rs 10 crore,” S M Arif, Managing Director, KSWDC, said.

In addition to these schemes,an innovative education loan scheme up to Rs 10 lakh, at a simple annual interest of 3.5 per cent,for children belonging to those families which had been hit hard by the recent developments, has also been finalised.

Source – http://newindianexpress.com/states/kerala/article1533101.ece

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