Vidyadhar Anaskar, Chairman of the administrative board of Maharashtra State Cooperative (MSC) Bank rubbished rumours doing the rounds in some sections of the media that the Bank is not willing to give loans any further to sugar factories in the state.
Talking to Indian Cooperative.com, Anaskar said, “It is wrong to say that we will not give loans to sugar factories. Several months back the five sugar mills of Maharashtra have applied for taking loans from the bank. The total loan is worth Rs 669 crore and half of the loan has already been disbursed to them”, he said.
“After the start of the crushing season, some other sugar factories also asked the bank to provide loans but we refused because the crushing season has already started. If they applied before the crushing season then there would be no problem”, he added while denying the media reports.
He further said the state government is giving guarantees for loans being given to the sugar factories. We are giving loans at a rate of 8 percent which is lower in comparison to NCDC, he informed.