Odisha govt to give Rs 9,500 crore kharif crop loan in 2023

The state government has set a target to disburse crop loans of Rs 9,500 crore during kharif season of 2023.
Representational image (File Photo | PTI)
Representational image (File Photo | PTI)

BHUBANESWAR:  The state government has set a target to disburse crop loans of Rs 9,500 crore during kharif season of 2023. The short-term cooperative credit structure having a major share in crop loan dispensation in the state is mandated to provide timely credit through primary agriculture cooperative societies (PACS) as per requirement of the farmers.

In the last year's Kharif season, the cooperatives had disbursed crop loans of Rs 8,710.78 crore to 18 lakh farmers against the target of Rs 9,000 crore which was an all-time high. During the current season, the cooperative lending institutions have disbursed Rs 7,812.22 crore loan to 16,23,790 farmers as on March 29, 2023.

Cooperation minister Atanu Sabyasachi Nayak has instructed Odisha State Cooperative Bank (OSCB), district central cooperative banks (DCCBs) and PACS to give ensure small and marginal farmers, tenant farmers, oral lessees, sharecroppers and women self-help groups are extended the loan facility. Financing of pulses, oilseeds, potato and other remunerative cash crops are to be prioritised and taking expeditious steps to bring more and more farmers to the ambit of cooperative loans, he said.

Meticulous planning and a well-structured credit programme are required to be drawn up for the provision of crop loans to farmer-members of joint liability groups (JLGs) and BALARAM scheme in order to cater to their credit needs. The state government has decided for the disbursement of crop loan to the farmers free of interest up to Rs 1 lakh from cooperative, commercial and regional rural banks. For crop loans above Rs 1 lakh to Rs 3 lakh, the effective rate of interest will be two per cent for prompt-paying farmers.

All crop loans sanctioned are to be credited directly to savings bank accounts of the farmers. PACS /FSCS /LAMPCS not doing loan transactions online will not be eligible to get refinance for Kharif-2023, he said. Farmers should be sensitised to operate upon their credit limits as many times as required so that the credit limits sanctioned in their favour are properly utilised and the interest on the crop loan kept at the minimum level, the minister said.  Principal Secretary of Cooperation Department Sanjeev Chadha has written to all collectors to take expeditious steps to ensure the implementation of the farm credit programme for Kharif-2023.

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