The Jharkhand government has requested a ₹1,500 crore loan from the Reserve Bank of India (RBI) to fund its development plans. The loan is being sought under the Fiscal Responsibility and Budget Management (FRBM) Act, which allows states to borrow up to 3% of their Gross State Domestic Product (GSDP).
The state will receive the loan at an annual interest rate of 6.92% and is expected to repay it within three years. This funding aims to accelerate infrastructure and welfare projects in Jharkhand.
Jharkhand Seeks ₹1,500 Crore Loan from RBI for Development Projects
ByNation Today- Team
Mar 19, 2025