Farmers in Tamil Nadu will soon have a new banking experience at primary agriculture cooperative banks (PACB) and in cooperative banks (CB), where they frequent periodically to avail loans for agricultural operations, according to the School Education Minister, ‘Ma Foi’ K. Pandiarajan.
Speaking at a function held here on Wednesday to mark the commencement of agricultural loan waiver scheme for small and marginal farmers, the Minister said that the State government had initiated steps to improve the services offered at PACBs and CBs on par with commercial banks. The move to improve the capital base of the cooperative financial institutions through shares to make them on par with commercial banks would also help augment the loan disbursement capacity of these banks, he added.
As far as the present scheme was concerned, the Minister said, a total of 25,280 small and marginal farmers in Kancheepuram district would stand to gain from waiver of farm and farm-related loans to the tune of Rs. 90.37 crore.
He distributed loan waiver certificates to small and marginal farmers who had taken farm loans from the Kancheepuram District Central Cooperative Bank.
‘There is a plan to improve the capital base of cooperative financial institutions through shares’
