NABARD agrees to refinance agriculture loans
National Bank for Agriculture and Rural Development has agreed to refix interest rates and refinance the agriculture loans for farmers in Kerala.
By PTI |
THIRUVANANTHAPURAM: National Bank for Agriculture and Rural Development has agreed to refix interest rates and refinance the agriculture loans for farmers in Kerala.
Addressing a press meet after a meeting with NABARD Chief General Manager Bhawar Puri, State Cooperation Minister G Sudhakaran said the bank has decided to release the relief package worth Rs 114 crore for three distressed districts of Palakkad, Wayanad and Kasargod.
NABARD has also agreed to provide agriculture loans at two per cent interest, he said, adding government plans to extend loans to paddy cultivation at four per cent.
Cooperative sector provided agriculture loans to the tune of Rs 2000 crore during 2006-07, Sudhakaran said. In this, NABARD contribution was only Rs 250 crore, he said.
NABARD would support the state government's effort to help the farmers in the state, Puri said.
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