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National Bank for Agriculture and Rural Development (Nabard) has reduced interest rate on RIDF (rural infrastructure development fund) loans extended to State Government from 7.50 per cent to 7.25 per cent with immediate effect.
Vinod Chandrasekharan, assistant general manager (public relations) at the regional office of Nabard here said that the apex bank has sanctioned Rs 5,223 crore under RIDF to Government of Kerala during 2012-13.
As per the phasing of the ongoing schemes, the State Government can draw up to Rs 818 crore during the rest of year 2012-13.
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