More cashew-processing units feel the heat as banks step up action

With the term of the state government's order against bank action ending on August 31, the industry is apprehending banks may start action against more units

More than 160 accounts of cashew-processing units in Kerala have turned non-performing assets (NPAs) and almost 700 of the 834 registered factories in the state have shut down in the past two to three years, according to industry sources.
 
With the term of the state government’s order against bank action ending on August 31, the industry, especially small- and medium-scale units, is apprehending banks may start action against more units.
 
“More than 160 industrialists’ bank accounts have been made NPAs and certain banks have taken possession of their homes, factories and other collateral properties. Two entrepreneurs recently committed