Banks and financial institutions have not provided new subsidized interest loans due to non-receipt of interest subsidy for a long time, and citizens are also having to pay high interest rates.
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The Ministry of Finance has disbursed 9.80 billion rupees for interest subsidy on subsidized loans that have been suspended for a long time. The Ministry of Finance released the amount on Saturday. Banks and financial institutions have not provided new subsidized interest loans due to non-receipt of interest subsidy for a long time, and citizens are also having to pay high interest rates.
"In accordance with the decision of the Minister of Finance, 9.8 billion has been disbursed in accordance with the decision of the Minister of Finance to provide subsidized loan interest subsidy for the purpose of subsidized loan interest subsidy in the second quarter of the financial year 082/83 by maintaining the first quarter and providing the loan interest subsidy provided in the last seven quarters to the Rashtra Bank," said the letter of the Ministry of Finance.
Along with this, since the amount to be paid by the government for interest subsidy is less, the possibility of banks and financial institutions to start providing subsidized loans has also increased.
