The government has notified the modalities for the beleaguered sugar industry to avail of interest-free loans to the tune of 6,600 crore rupees from banks for payments to cane growers. The Cabinet Committee on Economic Affairs had approved the loans for the cash-starved sugar mills last month. According to the notification issued by the Food Ministry, the interest burden on the loans is estimated at 2,750 crore rupees over the next five years and will be borne by the Centre from the Sugar Development Fund. The loan will be disbursed through a separate bank account to ensure the utilisation of money is monitored and the government will release interest subvention amounts on a quarterly basis in advance to the nodal bank.