Loans at 5%-6% will be in addition to already announced financial aid from State govt.
The Maharashtra government on Wednesday said that loans will be made available at low 5% to 6% interest rates from the district central cooperative banks (DCCB) to small business owners and shopkeepers in the Konkan region and western Maharashtra, who suffered losses during the recent incessant rains and subsequent floods.
The State’s Finance Minister Ajit Pawar held a meeting with senior officials of DCCBs from Satara, Sangli, Kolhapur, Raigad, Ratnagiri and Sindhudurg. The meeting discussed the recent floods, which affected businesses and shops from these districts and the commercial losses it fared.
“It was decided to sanction loans by these banks on a no-profit basis, observing social commitment. The loans will be at marginally higher rate than cost of fund. As a result, the available loan will be at a 5% to 6% interest rate,” said the Finance Department official. This scheme will benefit individuals with commercial establishments that were damaged and panchnamas performed.
The State government has already announced the decision to provide ₹50,000 to every owner of affected commercial establishments. The low interest loan will be in addition to already announced financial aid.
Earlier, State Housing Minister Jitendra Awhad held a meeting with officials from his department and Maharashtra Housing and Area Development Authority (MHADA) to discuss the rebuilding of Taliye village in Raigad district, which was buried in a landslide during the continuous rains. Mr. Awhad has already announced that MHADA will reconstruct the village without any cost to villagers.
“A total of 261 houses will be rebuilt in the stipulated time frame. The Relief and Rehabilitation Department will make the land and fund available to MHADA and the agency will present the layout at the earliest,” he said.
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