The Hindu Business Line : NCDC swap facility for co-ops

THIRUVANANTHAPURAM: The National Cooperative Development Corporation (NCDC) has permitted State cooperatives to take advantage of the prevailing interest rate regime by swapping high-cost loans with low-cost ones.

Announcing this, an official spokesman quoted the Union Agriculture Minister, Mr Sharad Pawar, as saying in New Delhi that the NCDC has reduced lending rates four times in the past two years. The prevailing rates that ranged between eight per cent and 10.5 per cent were competitive.

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