A news outlet says financially beleaguered cooperative sugar mills in Uttar Pradesh will try to get loans of Rs 3,650 crore from cooperative banks to pay sugar cane farmers in the coming crushing season.
The govt controls 24 cooperative sugar mills in the state. The govt will waive off Rs 9.12 crore as the government guarantee fee on the cooperative units for the current fiscal.
The govt will stand as guarantor for the cash-credit facility to be availed by cooperative factories from the cooperative sector banks.