The Himachal Pradesh State Cooperative Bank has started financing mini hydropower projects to promote power production in the state.
Bank official confirmed the development and sated that Bank has started financing hydropower projects up to 5 MW. A loan up to Rs.6 crore can be availed at a rate of interest of 13 percent. He added that the bank has earmarked Rs.600 crore for disbursing loans.
The gross profit of the cooperative bank, which has 184 branches, has increased from Rs.50.79 crore in March 2007 to Rs.86.62 crore in March 2012.