Financial Daily from THE HINDU group of publications
Tuesday, Sep 28, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 28, 2004 |
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Agri-Biz & Commodities
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Agricultural Institutions Nabard sanctions drought relief to Kerala Our Bureau
THIRUVANANTHAPURAM: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 400 crore as relief for the drought-hit in the State. The Chief General Manager, Nabard Regional Office, Mr B.S. Shekhawat, conveyed Nabard's decision to the Minister for Cooperation and Ports, Mr M.V. Raghavan, here on Monday. This follows a round of discussion Mr Raghavan had with the Nabard Chairperson, Ms Renjana Kumar, at Nabard's headquarters in Mumbai recently. An official spokesman said that the amount would be credited to the account of the Kerala State Cooperative Bank to be disbursed among district cooperative banks. Nabard has fixed the interest rate at 6.5 per cent. The spokesman quoted the Minister as saying that the amount was not sufficient to extend assistance to all afflicted. He demanded that Nabard raise the assistance to Rs 1,300 crore at a lower rate of interest.
More Stories on : Agricultural Institutions | Natural Calamities | Kerala
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