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Kerala declares 1-year relief on many loans

THIRUVNANTHAPURAM: The government on Wednesday decided to declare a one year moratorium on all agriculture, dairy farming and educational loans in the state.

The decision was taken at the Cabinet meeting presided over by Chief Minister Pinarayi Vijayan. The moratorium has been declared by exempting all conditions of State Level Bankers Committee.

Livelihood kits including rice and provisions will be given to each family from vulnerable sections for three months. A state level livelihood conference will be held on November 1 and 2 to formulate a comprehensive livelihood development package.

Effective monitoring mechanism would be set up at various levels for the rehabilitation and restoration activities.

Chief Secretary will ensure time bound implementation and monitoring of the rehabilitation and restoration programmes.  A high level committee will be set up at the state level comprising experts from various fields to monitor the implementation of the programmes.