News Karnataka
Monday, December 11 2023

Vijayapura: ‘DCC bank gives crop loan upto Rs 10L, 1st in State’

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Vijayapura: Congress MLA and DCC Bank President Shivanand Patil has claimed that Bijapur DCC is the first among all DCC banks which is giving agriculture loan up to Rs. 10 lakh to the farmers for taking up cultivation.

Addressing media persons on Monday September 19, he said that while the Government is giving interest free loan up to Rs. 3 lakh to the farmers through all the cooperative banks, DCC Vijayapura is giving an additional Rs. 7 lakh to farmers at an interest rate of 10 %.

“This is for the first time, the DCC is giving higher amount loan to the farming sector. Normally such a high loan is given by the nationalised banks. But in order to reduce the dependency of the farmers on the nationalised banks for higher loans, the DCC decided to offer loan up to Rs. 10 lakh. This is given to the farmers cultivating sugarcane,” he said.

Patil claimed that already some 36 farmers have secured the loan from the bank this year. He said that the bank, which is giving primary importance to the agriculture sector, has disbursed Rs. 1,352 Crore loan for the farming sector in 2021-22. Some 2.16 lakh farmers have taken loan, which the bank wishes to increase to 2.6 lakh farmers next year.“

On an average, the bank has given a loan of Rs. 65,000 to each farmer which is apparently highest among the other DCC banks,” he claimed.

He also said that in order to help the sugarcane farmers, the bank has given loans to around a dozen farmers to buy sugarcane harvesting machines which cost around Rs. 80 lakh to Rs. 1 Crore.

“Since the majority of the sugarcane farmers are facing labour problems in harvesting the sugarcane, the machines are being introduced to reduce dependency on labour,” he said.

Patil said that with a financial transaction of Rs. 5059 Crore, the bank has recorded a net profit of around Rs. 12 Crore by having Non Performing Asset (NPA) at only 1.40%.

He claimed that the DCC has branches in 43 places of the District and plans to add nine more in coming days. All the taluk banks of DCC have their own building. Of the total 272 Prathamika Krishi Pattina Sahakari (PKPS) of the District, 250 have their own building and the land being identified for the remaining banks.

With regard to the centenary celebration which has been pending for a couple of years owing to Covid pandemic, he made it clear that the celebration will be held by the end of this year where State and national leaders would be invited.

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