Southern States - Tamil Nadu-Chennai   

`Reduce RBI rate for farm finance'

By Our Special Correspondent

CHENNAI July 20. The All-India Co-op Bank Employees' Federation has urged the Centre to immediately reduce the Reserve Bank rate at 3 per cent below the bank interest for agricultural finance and reimburse an already assured recapitalisation assistance of Rs. 8,200 crores for enabling cooperative banks to serve the interest of farmers. The general secretary, P. Balakrishnan, in a statement here, said that for farm credit to be given by cooperative banks at 9 per cent, the RBI/National Bank for Agriculture and Rural Development should reduce its refinance rate at 3 per cent below the bank rate.

Only then would it be possible for the cooperative banks to lend credit to farmers at 9 per cent.

Printer friendly page  
Send this article to Friends by E-Mail

Southern States

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• 3 die as bus goes out of control
• `Reduce RBI rate for farm finance'
• A safety hazard on Anna Salai in Chennai
• Passenger to get compensation for wrong berth allotment
• Oral health programme launched
• Swajaldhara in 22 dts. soon
• Orissa man held for stealing cash
• Policeman fatally knocked down
• Metrowater plans to cover entire city by August-end

Copyright © 2003, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu