CoimbatoreTaxi News

The World Bank approved an 1100 crore rupees loan for Himachal Pradesh to promote green initiatives and sustainable development in the state.

The loan agreement was signed between the World Bank and the state government in New Delhi on 28 July 2012.

The financial assistance consists of 90 per cent grant and 10 per cent loan at interest rate of 0.7 per cent (payable in 30 years).

The loan is directed towards the development of industry, tourism, power and infrastructure projects in the state.

The planning commission of India in its environment performance report released on 26 July 2012, ranked Himachal Pradesh as top state in the country on environmental performance index.

According to the 2009 Forest Survey of India, the northern hilly state has a total of 37033 sq km of forest area, of which 3224 sq km is very dense forest.

State Bank of Patiala (SBOP) on 2 July 2012 launched gold loan (Swarn Shakti) for farmers against the security of gold ornaments to provide free loans to the farmers without taking loan on land. It would help farmers meet their small and long term agricultural needs with crop production, investment and consumption.

The maximum amount of loan is 10 lakh rupees and 30 percent margin will be given by the farmers.

The loan for crop production will be charged at 7 percent per year up to 3 lakh rupees.

Further, 3 percent interest of financial support will be given to farmers who refund their loans in time.

Therefore, the actual rate of interest charged will be 4 percent. The total period to refund the amount will be 36 months counting with harvesting season.