Cooperative Banks slash interest rate on agri loans in Punjab

Ludhiana, Oct 16 (UNI) The state Cooperative Banks in Punjab have decided to slash the interest rate on agricultural loans to farmers by 1.5 per cent from 7.5 per cent, Chief Minister Capt Amarinder Singh announced here today.

The Chief Minister said a decision to this effect had already been taken by the state government for the benefit of the farmers.

Cooperative Societies too had been directed to lower the interest rate by 1.5 per cent from 7.5 per cent, he added.

UNI XC HS BP RA VV1832