Modi writes to Pranab; seeks relief in interest on crop loans
Patna, August 31: The Bihar government has written to Union Finance minister Pranab Mukherjee seeking extension of interest subsidy for three years on short term crop loans in 26 drought hit districts.
Deputy Chief Minister Sushil Kumar Modi, who wrote to Mukherjee said the state government’s decision to stay the recovery of farm loans in 26 drought hit districts would cost heavily as banks have made it clear that they were unable to extend the interest subsidy for three years given the existing banking rules.