Nabard to refinance tsunami loans

Ranjana Kumar said banks provide loans to fishermen at an interest rate of 7.0 per cent.

Nabard, an apex rural financial institution, provides refinancing credit for agriculture and rural development.

Earlier this week, the Reserve Bank of India (RBI) asked banks to give loans to agriculturists, small industrial units, artisans, small businesses, trading establishments and other affected people for sustenance and to restructure farmers' loans should there be a crop failure.

The tsunami, triggered by a massive undersea earthquake off the Indonesian island of Sumatra, killed more than 68,000 people across Asia. Officials estimate that about 12,500 people were killed in India.

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