Minister for Cooperation K. R. Periyakaruppan on Thursday said that a total of ₹96.30 lakh had been distributed as loans to small traders in Chennai, Tiruvallur, Kancheepuram and Chengalpattu districts who had been affected by the recent cyclone.
He said applications had been issued under the Chief Minister’s Special Small Enterprises Scheme under which ₹10,000 was being given as loan at an interest rate of 4%. The amount had to be repaid in installments of ₹200 for 50 weeks within a year.
He added that the loans were being issued via the Cooperative bank and there was still time for small traders to apply for this loan. So far a total of 1,771 applications had been recieved, said a press release here.
