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File photo used for representational purpose.
| Photo Credit: Mahesh Harilal
Kerala State Financial Enterprises Chairman said the authorities had taken note of a report in The Hindu on how in some States an exorbitant rate of interest was being imposed on those desperately seeking money for COVID-19 treatment.
The Kerala State Financial Enterprises (KSFE), which has a gold loan business of around ₹3,000 crore a year, has announced gold loan at concessional rate and with minimum formalities for those infected by COVID-19 and their immediate family members.
Chairman of the public sector finance company Peelipose Thomas told
The Hindu on Sunday that the step was being taken to prevent the patients and their families from being driven to informal money lenders as had been happening in some of the States.