Banks have decided to prolong the loan interest moratorium by six months, which is a huge comfort to the companies that process mango pulp. The decision was made at a special virtual review meeting of the District Consultative Committee (DCC) that was conducted from the Collector’s chamber on Monday night.
In order to resolve the financial challenges encountered by owners of mango processing units, the conference was attended by District Collector Dr. S. Venkateswar, Joint Collector Shubham Bansal, and important banking representatives. The Collector observed that many establishments had a lot of unsold stock because of the low sales of mango pulp over the last two years. To lessen the financial strain, sector leaders had asked for an extension on interest payments at a previous conference.
A mandate to call a special DCC meeting to officially evaluate the proposal was made after talks with the State’s Chief Secretary, who gave a supportive response to the concerns. Banks agreed to submit the resolution to the government for approval at Monday’s session, indicating their support for the plan. The meeting was also attended by Lead Bank Manager G Ravi Kumar, Horticulture Department Officer Dasaratha Rami Reddy, and other bank officials.
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