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  • Banks to go easy on cashew factories

    Feb 16th, 2018

    Banks will not initiate revenue recovery proceedings against cashew factory owners who have defaulted on loans. The assurance was given by representatives of banks who attended a meeting convened by Chief Minister Pinarayi Vijayan. At the met, Mr. Vijayan proposed a moratorium on the loans, restructuring of the loans, a one-time settlement scheme and conversion of short-term loans into long-term loans, among others.