Odisha units Rs 9,000 crore kharif crop mortgage goal

By Express News Service

BHUBANESWAR: The State authorities has set a goal to disburse Rs 9,000 crore short-term seasonal agricultural loans to farmer members of the first agriculture cooperative societies (PACS) throughout this kharif season. Announcing the crop mortgage goal, Minister for Cooperation Ranendra Pratap Swain stated, “the government wants cooperative societies that provide around 62 per cent of the total crop loan disbursements in the State to extend their outreach to provide timely, adequate and hassle free credit to the farmers.”

He stated the division has written to all district collectors to expedite the method for crop mortgage disbursement with emphasis on small and marginal farmers. He stated the district central cooperative banks (DCCBs), deputy registrar of cooperative societies and chief district agriculture officer have been directed to arrange motion plan to cowl the farmer households unnoticed final yr underneath cooperative credit score community.

The goal for quantum of mortgage to be disbursed and the variety of farmers to be lined underneath kharif finance will likely be mounted PACS and village sensible to make sure in depth protection. He stated brief time period credit score will likely be prolonged to SHGs, tenant farmers and oral lessees. The PACS are suggested to dispense at the very least 10 per cent of the crop mortgage to share croppers by means of joint liabilities teams (JLGs). 

The Minister stated precedence is being given to finance pulses, oilseeds, potato, seasonal horticultural and different money crops.The cooperative credit score construction had achieved 92 per cent of the crop mortgage goal by disbursing Rs 8,686.4 crore to over 18.61 lakh farmers in 2021. The authorities had set a revised goal to disburse Rs 9,000 crore loans to farmers.

Similarly, a document disbursement of Rs 7,362.47 crore was made throughout 2021 rabi cultivation. Swain stated that the efficient price of curiosity for crop mortgage upto Rs 50,000 will likely be nil if the borrower repaid the mortgage in time and a couple of p.c for mortgage from Rs 50,001 to Rs 3 lakh.