Home / Knowledge / News / Textiles / Maharashtra to guarantee ₹1800-cr loan by cotton body

Maharashtra to guarantee ₹1800-cr loan by cotton body

08
Feb '20
Pic: Shutterstock
Pic: Shutterstock
The Maharashtra state cabinet recently agreed to guarantee a ₹1,800-crore loan required by the Maharashtra State Cooperative Cotton Growers Marketing Federation (MSCCGMF). The guarantee will be for the loan the federation will take from Bank of India at an annual interest rate of 7.75 per cent for ensuring timely payments to farmers on purchase of cotton in the 2019-20 season.

Between 60,000 quintals and 80,000 quintals of cotton is being purchased daily on an average in the state, a leading producer of the commodity, an official statement said.

At this rate, the federation is expected to purchase 30 lakh to 35 lakh quintals of cotton from farmers in the current season and for this a sum of ₹1,800 is required, a news agency reported citing the statement.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Pic: UNCTAD

Textiles | On 26th Feb 2020

Barbados unveils one-stop investment guide

As Barbados prepares to host the 15th quadrennial conference of the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search