The State Backward Classes Development Corporation has approved a microcredit loan amounting to Rs.28 crores for various initiatives in Ernakulam district. This includes support for Kudumbashree Community Development Societies (CDSs) across municipalities, gram panchayats, as well as NGOs like Ernakulam Social Service Society and Cochin Social Service Society. This Notification was published on 23.02.2024.
A total of 4728 beneficiaries in Ernakulam district are set to benefit from this loan. Significant allocations include 3 crores each for Kalamassery Municipality East GDS, Kumbalangi Gram Panchayat CDS, Kaladi Gram Panchayat CDS, Tripunithura Municipality CDS, Amballamur Panchayat CDS, and Karukutty Gram. Additionally, 9.64 crores have been earmarked for Malayathur Grama Panchayat CDS and Njarakkal Grama Panchayat CDS, while Ernakulam Service Society and Cochin Service Society NGOs will receive 2.14 crores. A further 7.31 crores has been sanctioned through the Sub District Office of the Corporation for initiatives in Kothamangalam Pallarimangalam Gram Panchayat CDS, Paingotur Gram Panchayat CDS, Keerambara Gram Panchayat CDS, and Mukdajuzha Gram Panchayat CDS. CDSs receive a working share of 1% on loans provided to them, with interest rates ranging between 4 to 5%. These loans have been instrumental in fostering self-sufficiency among various CDSs in the district, with many now boasting reserves of 4 to 5 lakhs. The Corporation’s Director, along with the Ernakulam Manager, has announced that the distribution of CDS loans will be finalized by the first week of March.
