Rate of interest on direct refinance assistance to co-operative banks reduced to 10% p.a.-NABARD

NABARD has reduced the rate of interest on Direct Refinance Assistance to Co-operative Banks on Short Term Multipurpose Credit Product from existing 10.50% to 10% per annum (p.a.) to augment the resources of Co-operatives Banks. Further, if the drawal is Rs 50 crore and above, the rate of interest on refinance would be 9.9%.

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