Coop banks plan Rs.43.5-cr. credit package

Special Correspondent

TIRUCHI : Cooperative banks in Tiruchi district have targeted to extend short-term farm credit to the tune of Rs. 43.5 crores to 2.51 lakh farmers during the current year (2005-06) and have already disbursed Rs. 16.93 crores so far, the Labour Welfare Minister, P. Annavi said.

The cooperative banks planned to sanction Rs. five crores as medium term loans to the farmers for the purchase of milch animals, goats and commissioning of gobar gas plants. A sum of Rs. 4.44 crores had already been sanctioned. Jewel loans worth Rs.110.63 crores has been disbursed so far against a target of Rs. 199 crores, Mr. Annavi said, speaking at the 52nd all-India cooperative week celebrations held at Thottiam on Sunday.

The Government was running the Pachamalai Multipurpopse Cooperative Society for extending financial support exclusively to the Scheduled Caste and Scheduled Tribe members. The society this year so far sanctioned Rs.46.62 lakhs against a target of Rs.1.10 crores.

The cooperative banks provided loans ranging from Rs. 100 to Rs. 5,000 at 10 per cent interest to petty traders and 684 persons have been given Rs.15.68 lakhs. Under the one-time clearance of dues scheme, interest to the tune of Rs. 135.33 crores was waived by the primary cooperative banks and rural development banks and this benefited 2,003 people. The cooperative movement has taken deep roots in the district, which accounted for 424 cooperative societies with a membership of 7.84 lakh men and women and capital outlay of Rs. 49.30 crores. He explained the steps initiated by the state government for further developing cooperative bodies in the state, the Minister added.