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5.3. Interest Rate and beneficiaries
Unit 5 - Role of NABARD in fisheries development
5.3. Interest Rate and beneficiariesInterest Rate
Earlier interest was at the rate of 6.5% to 8% for banks. Other beneficiaries have to pay a rate of 10-12.5% rate. That is for small farmers it was 10% and for others 12.5%.
The interest rate has been rationalized as given below. However interest rates do change according to the policies of the central government and RBI. Now, for beneficiaries,
Beneficiaries
Include individuals, Group of progressive entrepreneurs, fishermen cooperative societies, fishermen federations, state fisheries development corporations and also private companies.
Other agencies provide credit to fisheries sector through NABARD refinance are as follows.
Earlier interest was at the rate of 6.5% to 8% for banks. Other beneficiaries have to pay a rate of 10-12.5% rate. That is for small farmers it was 10% and for others 12.5%.
The interest rate has been rationalized as given below. However interest rates do change according to the policies of the central government and RBI. Now, for beneficiaries,
Include individuals, Group of progressive entrepreneurs, fishermen cooperative societies, fishermen federations, state fisheries development corporations and also private companies.
Other agencies provide credit to fisheries sector through NABARD refinance are as follows.
- Industrial Finance Corporation of India (IFCI)
- Industrial Development Bank of India (IDBI)
- Shipping Credit and Investment Company of India (SCICI)
- Industrial Credit and Investment Corporation of India (ICICI)
- State finance corporations
- National Cooperative Development Corporation (NCDC)
Last modified: Wednesday, 30 May 2012, 6:33 AM