Canara Bank, the public sector lender is inking pact with 45 other scheduled commercial banks with a presence in the State, in order to drive the cash subsidy transfer scheme. It is leading the pilot scheme in Wayanad and Pathanamthitta districts, being a convener of State-Level Bankers’ Committee (SLBC).
Through this scheme, the bank is increasing assistance to farmers at concessional rate of 4% for loans up to Rs 3 lakh for those with prompt repayment record. It has also approved loans for unemployed youth under the Kerala State Self Entrepreneurship Development Mission at the base rate.
