Feb 02, 2021

Govt. further implements micro finance loan scheme

The government has decided to further implement the micro finance loan scheme provided for indebted public living in the North and North Central provinces.

This loan scheme has already granted 292 million and 250 million to beneficiaries of the North and North Central provinces respectively.

The cabinet had decided to increase the maximum loan limit to Rs. 100,000 and decrease the annual interest rate from 9% to 6% for those loans.

The loans scheme was introduced across the Cooperative Rural Bank as well as Thrift and Loan Cooperative Societies for saving the rural low- income generators for the loans taken from various micro finance loan schemes and entangled in the loan traps.

It is already being implemented in 06 district secretariats in the North and North Central provinces.