The State government on Friday sought a ₹2,000-crore special revival package from NABARD to alleviate the growing economic distress caused by the COVID-19 outbreak.
In a letter, Chief Minister Pinarayi Vijayan has asked NABARD chairman Harsh Kumar Bhanwala to release the special assistance as a low-interest loan from the bank’s Rural Infrastructure Development Fund.
Mr. Vijayan asked for a 2% rate of interest instead of the customary 3.9% for such grants.
The partial lockdown imposed by the government had adversely impacted trade and commerce.
