kolhapur the smalltime traders vendors and cabin shop operators who have suffered losses due to the floods will now be eligible for loans at cheaper ratesdeputy chief minister ajit pawar who is also the state finance minister held a meeting with the heads of the district central cooperative banks of pune raigad satara sangli kolhapur ratnagiri and sindhudurg districts the heads agreed to provide loans at 5 to 6 interest rates earlier the appeal was made to all banks mainly the commercial banks to provide loans to floodaffected businesses however there was hardly any responsemany traders vendors have suffered losses due to floods landslides and torrential rains the assessment of damage is being carried out by the revenue department hasan mushrif the rural development minister and the head of kolhapur district central cooperative bank said the decision to provide exgratia amount of rs 50000 to small traders and vendors has already been taken for many the amount is insufficient to stand back on their feet to address this concern all cooperative banks as part of social responsibility have decided to allow loans at cheaper interest rates to such floodaffected people the interest rates have been fixed on no profit no loss to the banksthousands of vendors will benefit from the decision the state government has also requested the central government to direct the insurance firms to settle the claims of damages to the shops and materials inside