RBI to bring loans to processing units under priority sector lending
Updated: May 26, 2015 11:57:24am
Gangtok, May 26 (KNN) The Reserve Bank of India (RBI) has decided to bring agro-based processing units and cold chains under priority sector lending for greater flow of credit to entrepreneurs for setting up units, Food Processing Minister Harsimrat Singh Badal has said.
“Reserve Bank of India has classified loan to food & agro-based processing units and cold chain under Agriculture activities for Priority Sector Lending (PSL) subject to aggregate sanctioned limit of Rs 100 crore per borrower,” Badal said here on Monday while addressing the National Cold Chain Summit organized by Indian Chamber of Commerce.
It will ensure greater flow of credit to entrepreneurs for setting up of food processing units and attract investment in the sector, the Minister added.
India is one of the largest producers of milk, fruits and vegetables, marine products, meat and poultry and that there is an urgent need to create adequate cold chain capacity in the country for preventing wastage. (KNN Bureau)
“Reserve Bank of India has classified loan to food & agro-based processing units and cold chain under Agriculture activities for Priority Sector Lending (PSL) subject to aggregate sanctioned limit of Rs 100 crore per borrower,” Badal said here on Monday while addressing the National Cold Chain Summit organized by Indian Chamber of Commerce.
It will ensure greater flow of credit to entrepreneurs for setting up of food processing units and attract investment in the sector, the Minister added.
India is one of the largest producers of milk, fruits and vegetables, marine products, meat and poultry and that there is an urgent need to create adequate cold chain capacity in the country for preventing wastage. (KNN Bureau)
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