Kochi, May 21 (UNI) The government was planning to check the functioning of blade mafia by providing small loans to the public through cooperative societies in the state, Kerala cooperative Minister Kadakampally Surenderan told.
Addressing the gathering after inaugurating the distribution of Cooperative Deposit Guarantee Fund certificates here on Monday, he said instead of approaching cooperative banks for small loans, public used to depend on blade mafia, in turn they were being exploited by the later taking higher interest rates.
Suggesting that loans from up to Rs 5000 or above would be made available through banks, he said the project,‘’muttathe mulla’’, implemented in Palakkad district on an experiment basis giving hopes in this regard.