In relief for private sugar mills, UP extends soft loan window to Oct 31

UP govt has created a corpus of Rs 40 bn to be offered as a soft loan to aid the settlement of cane arrears by private millers

In a breather for private sugar mills weighed down by outstanding sugarcane arrears of almost Rs 80 billion, the Yogi Adityanath government has given an additional window of two weeks to apply for the state-sponsored soft loan totalling Rs 40 billion.  

To aid the settlement of cane arrears by private millers, the state government had earlier created a corpus of Rs 40 billion to be offered as a soft loan. The beleaguered mills were supposed to apply for the soft loan by October 15, while commercial banks were mandated to process and clear the loan proposals by October 31.  

However,