News Karnataka
Friday, May 20 2022
Bengaluru

Dept of Co-op directs DCC banks to provide remaining agri loans

Monsoon 2021 expected to rescue Indias agriculture in FY22

Bengaluru: The Department of Cooperation has directed District Central Cooperative (DCC) banks in the State to provide a total of Rs. 20,810 crore, in short, medium, and long-term agriculture loans to 30.86 crore farmers in the current financial year.

Cooperation Minister S. T. Somashekar said the department has given Rs. 14,188 crore, in short, medium, and long-term loans to 19.58 crore farmers in the State, achieving 68.18 per cent of the target, after reviewing the department’s performance. According to the Minister, the DCC banks involved have been instructed to complete the remaining portion of the target within the next three months.

The Minister informed that they are confident in their ability to meet the target.

DCC banks and Primary Agricultural Cooperative Societies, respectively, recovered 94.93 per cent and 76.29 per cent of their short- and medium-term loans. He claimed that 19,196 Self Help Groups (SHGs) received a Rs. 689 crore loan and the DCC banks have been instructed to ensure that more SHGs benefit from the government’s programme.

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