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Article: Govt asks banks to share interest burden on crop loans.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 3, 2007
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Govt asks banks to share interest burden on crop loans
New Delhi, June 3 (PTI) Amid hardening interest rate scenario, the government has ruled out increasing hike in subsidy to crop loans and instead asked PSU banks to share the burden of 1-2 per cent rise in interest rates.
"There is no proposal to raise interest subsidy of two per cent on short term crop loans. We have asked the banks to share the burden and provide crop loans up to Rs 3 lakh at 7 per cent," said a senior official in the Finance Ministry.
Target for total agriculture loans, including crop loans, has been raised to Rs 2,25,000 crore for 2007-08 as against estimated Rs 1,90,000 ...