THANJAVUR
The reduction in scale of loan through Cooperative Banks/Societies for agriculture operations this season has triggered a sense of disappointment among the farmers.
Inquiries reveal that normally the Cooperative Banks and Societies would be fixing a scale of loan of less than ₹ 10,000 of the amount fixed as loan for different crops by the nationalized banks every year. But this year, much to the dismay of the cultivators, the Cooperative Banks and Societies have reduced the maximum crop loan amount by ₹ 500 compared to the loan amount disbursed by them during last year, claimed G. Srinivasan, a progressive farmer from Ganapathi Agraharam.
Though the scale of loan for paddy has been fixed at ₹ 32,550 per acre for normal cultivation and ₹ 20,600 per acre for direct sowing at the Cooperative Banks and Societies, the farmers, as usual, would be made to remain content with funding of ₹ 20,000 or even less per acre if they opt to avail crop loan through the Societies.
On the other hand, if they choose to avail crop loan from Nationalized Banks, they would be getting around ₹ 40,000 to ₹ 50,000 per acre depending on the crop/plantation, he added.
Expressing discontent over the reduction in maximum crop loan amount this season where the farmers were already exposed to the sudden increase in the input cost due to COVID-19 pandemic, Mr.Srinivasan sought an upward revision of the scale of finance this year.
Pointing out that a minimum of 20 % increase in the scale of finance alone would help farmers reap some profit out of the cultivation activity this season in view of the slowdown in the economy, he urged the State Government to consider this plea for the betterment of the farming community.
