Services

Risk Fund

Kerala Co-operative Risk Fund Scheme was introduced as per G O(MS) No.249/2008/Co-op: Dated 18.11.2008. All Credit Co-operative Societies/ Banks can become a member of the scheme. Each Credit Co-operative Society/Bank can become a member of the Scheme by contributing at the rate of 0.35% of each loan distributed by the Credit Co-operative Society/Bank subject to a maximum of  Rs. 525  to the corpus fund of the Scheme. Government shall also make contribution to the corpus fund of the scheme.  As per the scheme principal amount not exceeding Rs. 1.50/- lakh and interest thereon outstanding on the loan availed for agricultural purpose and non-agricultural purpose excluding gold loan and fixed deposit loan and who died within and after repayment period  shall be written off from the liability of the loanee. The scheme have been extended to patients having diseases like Paralysis, Kidney disorders, AIDS (Acquired immune deficiency syndrome), Heart operation cases and Cancer.  An amount of Rs. 75,000/- and interest thereon outstanding on the loan shall be written off from the liability of the loanee having above diseases. This scheme is implemented by Kerala Co-operative Development and Welfare fund board.