Indian minister says banks will begin flexible finance for ethanol by August 15

In India, Swarajya reports that the cooperation minister says banks will begin providing ethanol plants with flexible lending by August 15 following the failure of the tripartite plan between mills, ethanol offtakers and banks. The idea was that banks would finance ethanol capacity expansion and the loans would be paid directly by the oil marketing corporations buying the ethanol in an effort to provide additional financial guarantees because the balance sheets of so many mills are too weak for standard financing.