Telangana Today reports NAFSCOB’s Chairman Konduru Ravinder Rao urged the chairpersons of all Primary Agriculture Cooperative Societies (PACS) to take advantage of the NABARD special financial assistance for the PACS.
He underlined the fact that PACS units are an important part of the cooperative sector.He said Nabard will provide Rs 2 crore to each PACS at one percent interest with a view to strengthening them. However, this would be without any subsidies, he remarked.
The Rs 2 crore loans will be repayable in ten years. It was also revealed that PACS could get additional Rs 2 crore loans, at the rate of 4 percent interest.