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Agricultural Bank to grant Rs 1,000 crore loans

THIRUVANANTHAPURAM: Kerala State Co-operative Agricultural and Rural Development Bank is mobilising funds for making the agricultural sector self-reliant. President of the bank Solomon Alex an

Published: 04th January 2012 06:52 AM  |   Last Updated: 16th May 2012 06:08 PM   |  A+A-

THIRUVANANTHAPURAM: Kerala State Co-operative Agricultural and Rural Development Bank is mobilising funds for making the agricultural sector self-reliant. President of the bank Solomon Alex and Managing Director K Ramachandran told a news conference that NABARD and NCDC had been the main sources of funds for primary banks at the taluk basis. But NABARD has been raising the interest rates from time to time and was making several conditions for granting loans.

They said the bank was planning to grant Rs 1,000 crore as agri loan. A sum of Rs 780 crore has been granted as loan so far. They said the state-level deposit mobilisation would be inaugurated at a function to be held at the V J T Hall here on Wednesday. Chief Minister Oommen Chandy would inaugurate the function at 3 p m. Cooperation Minister C N Balakrishnan would preside over the function. Finance Minister K M Mani would make a declaration granting permission for fund mobilisation. Devaswom and Transport Minister V S Sivakumar would distribute the  awards for best primary banks.  

K Sivadasan Nair MLA would give away the award for the best bank which had made an achievement in repayment.                          



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