The Telangana Grameena Bank (TGB) has offered loans to its farmer-customers to lift the fertile silt from tank beds that are being cleaned under the Mission Kakatiya programme in the State. The maximum amount of loan to be given is Rs. 50,000 at the rate of Rs. 5,000 per acre with another Rs. 1,000 per acre as the contribution of the farmer.
TGB Adilabad Regional Manager P.R.V. Ramchander Rao, on Tuesday, told The Hindu that the scheme has been christened Bhoomi Vruddhi and the loans will be given under Agricultural Term Loan category. “We have informed all our branch managers to hold consultations with local leaders and put up banners announcing the start of Bhoomi Vruddhi,” Mr. Rao said.
Talking about other details of the scheme, the Regional manager said the rate of interest on Bhoomi Vruddhi loans would be 12 per cent for yearly rest. The borrower would be needed to give a simple declaration that the money will be used to the purpose of transporting silt.
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