Industry & Economy
-
Natural Calamities
Agri-Biz & Commodities
-
Agricultural Institutions
Nabard's special financial package for tsunami victims
Our Bureau
Thiruvananthapuram
,
Dec. 28
THE National Bank for Agriculture and Rural Development (Nabard) has prepared a special financial package to provide relief to the people in the tsunami-affected regions of the country.
Investment finance will be provided to fishermen for periods between three and five years to enable them to buy nets, boats, engines and so on, says a press release issued by Mr B.S. Shekhawat, Chief General Manager-Kerala Region, Nabard.
Another measure outlined in the package is the restructuring or rescheduling of the existing loans of affected people, for periods between five and nine years based on the repayment capacity of each borrower. The bank will provide corresponding refinance support, the release adds.
For this special package, Nabard will provide 100 per cent refinance to all categories of banks irrespective of the loan amount of the tsunami-affected people. Refinance will be given at a special concessional interest rate of 4.25 per cent so that banks can provide loans to the ultimate borrower at 7 per cent rate of interest, the release adds.
Nabard's district managers, posted in the affected districts, have been asked to liase with and assist the district administration and the banks in maintaining the credit flow. The bank is also monitoring the situation and will introduce more schemes if the need arises. It will also introduce appropriate measures, if required, based on the decisions taken at the special meeting of the State Level Bankers Committee being held on Tuesday, the release adds.
More Stories on :
Natural Calamities |
Agricultural Institutions |
Kerala
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
