Maharashtra banks stonewall mills by clearing only 25 per cent soft loans to pay off cane dues

  • | Tuesday | 14th May, 2019

Sugar mills in the state have blamed banking bottlenecks for the slow disbursal of soft loans to clear cane dues. But to date, banks had sanctioned loans worth Rs 838 crore of which only Rs 299 crore had been disbursed in actuals. AdvertisingOfficials of the sugar commissionerate said their office cleared proposals for disbursal of loans worth Rs 3,314 crore. Concerned over rising cane dues, the central government had announced a soft loan scheme of Rs 10,500 crore to help mills pay their farmers. The scheme was to see mills availing loans at seven to 10 per cent interest for a year.

Read Full Article Here

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.


Stay updated with all the Pune Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles