In keeping with the National Bank for Agriculture and Rural Development’s policy of extending loans to farmers against warehouse receipts of farm produce, the branches of Tiruchi District Central Cooperative Bank and Primary Agricultural Cooperative Banks will be extending loans to farmers based on warehouse receipts, said G.Rajendra Prasad, Joint Registrar of Cooperatives, Tiruchi.
Speaking at a function held at Lalgudi on Tuesday, he said the scheme had helped farmers to avail loan against commodities kept in cold storages and warehouses. It was aimed at preventing distress sale of farm produce. The loan would help the farmers to meet their emergency expenses. The farmers could sell the products when they get a good price, and repay the loan. All PACBs and TDCCB branches would accept warehouse receipts for lending loan. Suresh Kumar, Assistant General Manager, NABARD, said as many as 29 warehouses had been constructed in Tiruchi district on PACB premises. The farmers could store their produce in the warehouses and they would be given receipts for it. Interested farmers could get loans with the help of these receipts from commercial banks.
N.Ramaiah, Deputy Registrar, K.K.Selvaraj, Managing Director, Tiruchi District Cooperative Union, and S.M.Balan, Lalgudi Sivagnanam Agricultural Sales Association, spoke.
