Cooperative banks in Maharashtra to provide loan on subsidised rates to flood-hit traders

Cooperative banks in Maharashtra to provide loan on subsidised rates to flood-hit traders

PTIUpdated: Wednesday, August 18, 2021, 05:56 PM IST
article-image
The decision is expected to benefit traders, small businessmen and shop owners who need capital to start afresh/ Representational image | (ANI Photo)

The district central cooperative banks (DCCBs) in six flood-hit districts of Maharashtra decided on Wednesday to disburse loans to the affected traders and small businessmen at subsidised rates of five to six per cent.

The decision was taken during a meeting chaired by state Finance Minister Ajit Pawar where principal secretary (finance) O P Gupta and representatives of the DCCBs were present, an official statement said.

The decision is expected to benefit traders, small businessmen and shop owners who need capital to start afresh.

Heavy downpour from July 21 to 23 caused flooding in parts of various districts, including Pune, Satara, Ratnagiri, Sindhudurg, Kolhapur and Raigad, claiming over 200 lives and causing losses worth hundreds of crores, officials earlier said.

Raigad in the coastal Konkan region was the worst-hit district, accounting for nearly 100 deaths.

The state government earlier this month announced a Rs 11,500-crore financial package for rain and flood-affected people, besides for repair works and reconstruction of roads and other critical infrastructure damaged in the deluge.

RECENT STORIES

The Impact Of AI On Psychometric Testing

The Impact Of AI On Psychometric Testing

Shapoorji Pallonji Group's Afcons Infrastructure Files Draft Red Herring Prospectus For ₹7,000 Cr...

Shapoorji Pallonji Group's Afcons Infrastructure Files Draft Red Herring Prospectus For ₹7,000 Cr...

ICICI Securities' Retail Distribution Head Quits; Exchange Filing Reveals

ICICI Securities' Retail Distribution Head Quits; Exchange Filing Reveals

Exploring The Technological Foundation Of Harambe Token

Exploring The Technological Foundation Of Harambe Token

The Entrepreneurial Journey Of Moglix’s Founder & CEO, Rahul Garg, And How He Built A...

The Entrepreneurial Journey Of Moglix’s Founder & CEO, Rahul Garg, And How He Built A...