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Karnataka - Shimoga Printer Friendly Page   Send this Article to a Friend

Loans for setting up agro-based industries

Special Correspondent

SHIMOGA: President of the Karnataka State Cooperative Apex Bank R.M. Manjunath Gowda said here on Tuesday that the apex bank and the Shimgoa District Cooperative Central (SDCC) Bank would advance loans under a special package for establishment of agro-based industries in the district.

He told presspersons here that he had discussed about the new package with Chief Minister B.S. Yeddyurappa and Minister for Major Industries Murugesh Nirani suggesting that there was a vast scope for the setting up agro-based industries in the district.

He said it was proposed to advance loans for non-agricultural needs through 4,613 primary agricultural cooperative societies at 8 per cent interest rate.

The SDCC Bank which had advanced farm loans to the tune of Rs. 165 crore last year would be sanctioned an additional refinance of Rs. 80 crore.

All district cooperative central banks in the State would get an additional refinance of Rs. 100 crore each this year, he said.

He said that nearly 2,000 members of co-operative units from Shimoga district would participate in the Sadhana Samavesh to be held in Bangalore on June 25 to highlight the achievements of the BJP Government.

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