Govt, RBI in talks to allow easy credit to food processing units

A sum of Rs 500 cr set aside from a special fund created to deploy funds in Nabard

The Union ministry of food processing industries (MoFPI) is in talks with the Reserve Bank of India (RBI) to allow refinancing to the banks of the 'special fund' created to give affordable credit to food processing units coming up at the designated food parks.

The RBI created a Rs 2,000-crore fund for deployment in the National Bank for Agriculture & Rural Development (Nabard).

"A sum of Rs 500 crore has been sanctioned out of the special fund. Out of that sanctioned amount, Rs 150 crore has been disbursed. The take off is slow because the fund is restricted to mega