CHENNAI: The cooperation department has set a target of disbursing loans worth Rs 1.8 lakh crore during the 2026-27 financial year. This marks an increase of Rs 30,000 crore from the previous year, largely driven by the enhancement of the eligible loan amount against gold jewellery.
Last year, the department disbursed loans worth around Rs 1.5 lakh crore to 90 lakh beneficiaries. This year, it has set a target of extending loans to one crore to 1.1 crore borrowers across 30 categories.
Recently, the loan eligibility was increased from Rs 7,000 to Rs 10,000 per gram of gold. Official sources in the department said gold loans worth Rs 70,000 crore were disbursed last year. “The figure is likely to touch Rs 1 lakh crore this year following the increase in the eligible loan amount,” an official said.
The official added that the crop loan target remains unchanged at Rs 17,000 crore for the current financial year. “In addition, the department has earmarked Rs 3,000 crore for loans to the animal husbandry and allied sectors and Rs 5,000 crore for loans to rural businesses, a new initiative aimed at supporting rural enterprises,” added the official.
Official sources said Rs 11,446 crore had been earmarked for loans aimed at improving the quality of life and economic well-being of farmers, women, youth, transgender persons, disabled persons, and others.
Meanwhile, an official statement from the department said special camps will be held at cooperative banks and societies on Tuesdays to expedite loan disbursement under the singapenn entrepreneur credit scheme and housing loan schemes. Loan camps for other priority sectors will be conducted on Fridays.
