Karnataka

Co-op farm loan disbursal surpasses last year’s figures

The State has managed to disburse about 6.3% more agriculture loan in cooperative sector this financial year over the previous fiscal despite the financial constraints due to COVID-19.

While ₹13,500 crore had been disbursed in the previous financial year, this year the agriculture loan in cooperative sector stood at ₹14,420 crore benefiting about 19.17 lakh farmers, a statement from Cooperation Minister S.T. Somashekar said on Sunday. “Though during the initial days it looked difficult to disburse the loan due to economic slowdown caused by COVID-19, the State is well on course to meet the target this year,” he said.

Loan target

The cooperative sector loan target has been kept at ₹15,300 crore to benefit 24.4 lakh farmers during 2020-2021. “We are hoping to reach out to all 24.4 lakh farmers with loan disbursal shortly,” the Minister said, adding that the grievances of loan disbursal being irregular has been addressed.

This article is closed for comments.
Please Email the Editor

Printable version | Mar 9, 2021 5:38:24 AM | https://www.thehindu.com/news/national/karnataka/co-op-farm-loan-disbursal-surpasses-last-years-figures/article33595268.ece

Next Story