Industry not satisfied with Kerala's special loan package for Cashew units

Cashew units allege that the banks are still going ahead with attachment of properties and auction, despite the State government's consistent efforts

The Kerala government has announced a special package to restructure loans and take over the interest payment for fixed period for the Cashew processing units in the state. The industry, which is largely small-scale, has been facing massive shutdowns due to heavy losses and debt and pressure from the banks.

Around 111 units will get additional loans through the package. The Kerala Cashew Industry Joint Protest Council has alleged that the banks are still going ahead with attachment of properties and auction, despite the State government’s consistent efforts. Over 700 of the 865-odd factories in the State were shut down