News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Obituary |
Tamil Nadu
Farmers flay restriction in sanction of loans
Staff Reporter
PUDUKOTTAI: Restriction in sanction of loans by Primary Agricultural Cooperative Banks has hit farmers, particularly small and marginal farmers cultivating paddy, maize and sugarcane.
The District Chairman of Farmers’ Forum of India, G. S. Dhanapathy, said the banks had introduced a fixed lending formula of Rs.10,000 a farmer, irrespective of the exact area of crop under cultivation. The quantum of loan was too inadequate to meet the cultivation cost.
For instance, a paddy grower cultivating the crop on five acres was eligible for a loan of Rs. 40,000 at the rate of Rs.8,000 an acre in irrigated lands or about Rs. 30,000 at the rate of Rs. 6,000 in non-irrigated areas. But, the current ‘ceiling’ on credit made the farmer eligible for only Rs. 10,000.
Pointing out that the cost of cultivation was far higher, he urged the authorities to withdraw the restriction. Maize cultivators bore the brunt of the ceiling. Officials of the Cooperative Department, when contacted, confirmed that the banks had introduced the ceiling for ensuring credit-flow to all farmers. Lending capability of banks would stabilise soon after the state government reimbursed the loans and interest under the waiver scheme.
Printer friendly
page
Send this article to Friends by
E-Mail
Tamil Nadu
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Obituary |
Updates:
Breaking News |
|
