Low-interest loans a breather to Kudumbashree

KOCHI: A loan worth Rs 3.5 lakh with a slashed interest rate came as a pleasant surprise to the women self-help groups across the state. The members of Kudumbashree, one of the largest women-empowering projects in the state, think that with this capital they would be able to reap the benefits of many projects undertaken by Kudumbashree.“This is a huge amount. To start a new venture with the available fund and that too with a high rate of interest has always been an impediment. But this came as a big surprise as well as a breather,” said Shibhi Jose, a Kudumbashree member. She said that seven years back she started a venture named ETKSAT (Empowerment Through Knowledge Skill and Attitudinal Change) with the available amount and today it is a success. Now this huge amount will help the Kudumbashree members who want to start micro financing units in a big way. “I started this enterprise seven years back to train the women who undertake various micro financing units. Though we had a humble start with the available resources, our services have now spread to almost all the government departments like Fisheries, Matsyafed and the like. Hence such a big allowance given by the government would help women like us immensely,” she said.Selin Joseph who runs Deepin Charitable society in Kochi said that though such moves are appreciable, government should also make sure that the provided funds reaches proper hands. “There is no dispute over the fact that `3.5 lakh given as a loan is a real breather. But there should be a proper mechanism to monitor how many members of women self-help groups are receiving its benefit,” she asked.Xenny Baby, chairperson, All India Democratic Women’s Association (AIDWA) said that she was doubtful of the success of such moves by the government as it was planning to do away with subsidies in future, without which such projects could not be implemented.