Provide relief to poultry sector: RBI to banks

After asking the banks to provide sugar package to the ailing sugar industry, the Reserve bank of India now wants them to extend various facilities to poultry units being financed by them.

Written by Banking Bureau

February 20, 2008 23:17 IST

After asking the banks to provide sugar package to the ailing sugar industry, the Reserve bank of India (RBI) now wants them to extend various facilities to poultry units being financed by them. The idea is to help the poultry units at a time when they were hit by the outbreak of bird flu or ?Avian Influenza? in some areas of the country, which has caused not only the loss of income to the industry due to culling of birds, but also resulted in steep fall in demand for poultry products and their prices.

It was on January 7 when the central bank had asked the banks to extend loans under the package and avail of the interest subvention of 12% for the same.

This article was first uploaded on February twenty, twenty eight, at seventeen minutes past eleven in the night.