Kerala Chief
Minister Ommen Chandy taking steps for availing loans to the common man at low
interest rates is welcome. He said”steps will be taken for availing loans at
low interest rates. The State Bankers’ committee meeting will be convened on
May 22 to discuss the matter.” The CM has taken such a decision on the back
drop of suicide of a few people who fell
in the trap of blade mafia in the state. Nevertheless, the feasibility of CM’s
step for easy loan is doubtful.
The blade men
issue loan to without much guarantee. Their only guarantee is the quotation
gang that collect the pay back. Even high-tech bankers, name to none, resort to
this method to get back the dues. The nationalized banks, banks in the
cooperative sector, or the KSFE could not lend money without proper guarantee.
And the process of giving guarantee takes time and hence quick and easy loan as
practiced by blade men is not possible for any financial institution under
government control. This means minister’s step is only a soothing remark
without any viability.
Also the
statement that steps should be taken to speed up disbursement of loans by the
Matsyafed and Kudumbasree project is also doubtful. How could a cash-crunchy
state exchequer lend easy loan to people?
The bankers
who issued education loans on the basis of the rhetoric of certain ministers are now in doldrums because
of non-repayment. And in that context no
banker would undertake easy loan to common people who have only sky above and
earth below.
K A
Solaman
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