Punjab fin min seeks Centre's help

Chandigarh: The Punjab Finance Minister Advocate Harpal Singh Cheema on Thursday urged the Union government to convince Reserve Bank of India (RBI) to approve the state proposal of amalgamation of District Co-operative Central Banks with Punjab State Cooperative Bank.

He also impressed upon GoI for reinstating 2 per cent interest subvention to PSCB, reducing rate of interest on refinance of short-term agriculture loans from NABARD, infusing capital in cooperative banks on the pattern of commercial banks, reversing Capital to Risk Assets Ratio norms to 7 per cent, reducing GST on milk and milk products to minimum tax slab, and setting up National institute for New Product Development expertise in the state.