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Agricultural loan interest rates to be lowered soon

Staff Reporter

Government yet to take a final decision, says G. Sudhakaran

THRISSUR: Minister for Cooperation G. Sudhakaran disclosed on Saturday the Government was planning to reduce the interest rate of agricultural loans from the cooperative banks to 4.5 per cent from the present 5.5 per cent.

Inaugurating the showroom of the Anappara Cooperative Granite Factory here, the Minister however said that a final decision in this regard was yet to be taken.

The Minister recalled that the Left and Democratic Front (LDF) Government had reduced the interest rates on agricultural loans from the cooperative societies from 8.5 per cent to 5.5 per cent as soon as it came to power. "We are trying to reduce it further to help the farmers who are facing extreme financial problems," he said.

Mr Sudhakaran said the LDF Government favoured reducing the interest rates of all the loans from the cooperative banks. Mayor R. Bindu presided.

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