MP for interest-free loans to cyclone-hit

 Cuddalore MP K.S. Alagiri has appealed to the nationalised banks to sanction interest free loan to the extent of Rs.1 lakh to each of the cyclone affected farmers.

In a representation addressed to E. Sundararajan, Zonal Manager of Indian Bank (which is the lead bank in Cuddalore district) Mr. Alagiri stated that since Cuddalore was a predominantly agriculture based economy the ‘Thane' cyclone that struck on December 30, 2011 blighted the prospects of a good harvest.

Even if the farmers, particularly those owning cashew and coconut groves, started re-plantation right earnest it would not be before seven to ten years they would reap the benefit.

Therefore, to help the farmers who were economically in a bad shape the banks should come forward to extend interest free loans.