Facilitate loans to new entrepreneurs: CM Fadnavis to co-op banks

Maharashtra chief minister Devendra Fadnavis on Friday appealed to co-operative banks to make necessary changes in rules to facilitate faster loan disbursal to new entrepreneurs and other sections of society.

Maharashtra chief minister Devendra Fadnavis on Friday appealed to co-operative banks to make necessary changes in rules to facilitate faster loan disbursal to new entrepreneurs and other sections of society.

"New entrepreneurs can start their units on time and contribute in development if co-operative banks make necessary amendments in sanctioning loans to them. The changes will also help other sections of society," he said.

Fadnavis was speaking at the AGM of Maharashtra State Co-operative Bank Association in Mumbai. Union transport minister Nitin Gadkari was also present.

Later talking to reporters, Fadnavis said his the government was committed to the welfare of sugarcane growers and had announced a financial package of Rs 2,000 crore for them. Also, purchase tax on cane procurement has been waived.

Next year, the government will focus on increasing ethanol production, a move which will help sugarcane farmers, the CM said.

The Centre has taken a positive stand on the state government's request of creating a buffer stock of ethanol (a biofuel made from sugarcane molasses), which will help the sugar industry, Fadnavis said.

"The fact is both the State and the Centre are working towards completing the project at the earliest," he added.