Interest on loans for SHGs halved in K'taka

Bangalore, Sep 4 (UNI) Karnataka Rural Development and Panchayat Raj Minister Shobha Karandlaje today said the State Cabinet had approved loans to Self-Help Groups at the interest rate of six per cent.

Ms Karandlaje told reporters after a Cabinet meeting here, there were 2.50 lakh SHGs and they would be provided with loans from Rs 25,000 to Rs one lakh at the rate of six per cent.

Earlier, the interest rate was 12 per cent and more than 1500 SHGs availed loans totalling Rs 636 crore, he said.

The Cabinet also approved education loans for students of professional courses at six per cent from this month, she said.

The meeting also approved the budgetary programme of providing subsidy of Rs two per litre of milk to farmers, she said.

UNI SIV SY UCS2031