News About Crop Loan

• 23,000 farmers benefit from Crop Loan waiver

  The Tamil Nadu Government has given a sigh of relief to 23,536 farmers who have taken crop loans in the Madurai district. According to a recent report, 182 primary cooperative societies, Melur Primary Agriculture and Rural Development Bank, and Madurai District Central Cooperative Bank have sanctioned crop loans to over 23,000 farmers. The loans amass to a tune of Rs.116.29 crore. 6,108 farmers have been given loans to a tune of Rs.42.31 crore this year. There has also been an initiative to set up 14 cooperative medical shops and 5 Amma medical shops with the intention of helping out the elderly. These outlets will now sell medicines at a discount of 15%.

  

  8th February 2017

• Nashik District exceeds Crop Loan disbursement Target By 18%

  The district of Nashik has placed third in the state of Maharashtra in terms of the disbursement of kharif crop loans. Having exceeded their set target by a modest margin of 18% points, Nashik has left behind several major districts in terms of the crop loan disbursement. A senior district collectorate official spoke that instead of the set target of disbursing Rs 2,350.75 crore for kharif crop loan, the district actually disbursed kharif crop loans worth Rs 2,784.04 crore. The district level consultative committee (DLCC). Lead by the collector was responsible for managing the performance of banks in the district. They had previously implemented various kinds of initiatives in order to not only approach the common man but also make them aware of the advantages of credit services and facilities provided by nationalized banks. Bankers in the district of Nashik have provided loans to the tune of Rs 2,784 crore and exceeded their target by 18%. Other districts such as Ahmednagar disbursed loans worth up to Rs 2,429 crore and were left short of 10% from achieving their target of crop loan disbursal which was Rs 339 crore over the target se for Nashik.

  

  5th January 2017

• Cash-strapped KDCC bank has disbursed only a small percentage of crop loans

  The recent demonetisation of high-value currencies by the Modi-led government has put the whole country in a tight spot. From the general public to farmers to banks, everyone has struggled after the demonetisation announcement by Prime Minister Narendra Modi on November 8. The RBI’s stringent disbursement rules have made situations even worse for banks and farmers. Farmers preparing for the Rabi crop season have suffered the brunt of this decision and mostly, the Rabi crop season could be delayed. In the district of Kolhapur, KDCC bank - also suffering from the cash crunch - has been able to disburse only Rs.11.52 crore from October to December for crop loans for the Rabi season. Just last year, in the same period, KDCC was able to disburse loans amounting to Rs.600 crore. The bank manager has blatantly stated that they do not have the money to disburse crop loans to farmers, and this has reflected poorly on the government’s credibility with regard to managing the cash crunch in the country.

  

  2nd January 2017

• Nagpur division sees disbursal of Rs.2,803 crore crop loan

  The kharif season of this year in Nagpur saw disbursal of crop loan of Rs.2,803.13 in six districts. The loan amount is Rs.509.08 crore higher than last year’s crop loan disbursal in the kharif season. A target of Rs.2,827.39 crore was set by the state government for the division and according to a report from the divisional commissionerate, 99.14% of the target has been achieved. Total of 3,98,446 farmers have obtained crop loan this year. However, the number of farmers who availed the loan is low as 20% of the account holders are considered to be no more or moved to other places.

  

  22nd September 2016