New Delhi, Oct 20 (KNN) Cashew workers affiliated to the CITU staged agitation in front of RBI earlier this week demanding that the centre changes its policy of denying loan to processors, said Saji, Commercial Manager of Kerala State Cashew Development Corporation Ltd.

Speaking to KNN India, Saji said that the workers protested in front of RBI for availing fresh loans for the industry as the state of industry is in very bad phase.

Around 60-70% of factories have been closed owing to price rise of raw cashew and imposition of import duty, he added.

Besides, processing cost is also high in Kerala as compared to other states, Saji pointed.

He further added that most of the processing units have become bankrupt as they were not able to pay their loans back.

Raising the demands for the revival of industry that has been suffering huge loses and is on the verge of closure, entrepreneurs demanded either to convert existing dues into long-term loans or avail of fresh loans after declaring moratorium on liabilities.