Loan Care For Farmers

State Government has decided to provide crop loan of Rs.5000 Crore to the farmers in the ensuing Rabi Season.

 
Accordingly instructions have already been issued to the State Cooperative bank and the District Central Cooperative Banks(DCCB) for disbursement of loans on priority basis in the drought  and pest affected districts.
 
While Commercial and Nationalized Banks are seen to be reluctant to release crop loans to the farmers, the Odisha State Cooperative Bank is coming to rescue of the needy farmers, admit senior officials in the State Government.
 
Department of Agriculture & Farmers’ Empowerment sources said that clear instructions have been issued to process loans for Rabi Crops of affected farmers within 15 days of receiving application.
 
While crop loans are being provided enrollment of farmers under Crop Insurance Program was also taken up vigorously during Kharif season.
 
During Kharif season 18.03 lakh farmers have been enrolled under Prime Minister Fasal Bima Yojana (PMFBY) over an area of 13.60 Lakh Acres with a sum insured value of Rs.7,415 Crore.
 
Sources said that this year there has been a record increase in enrolment of non-Lonee farmers .
 
As against the last year’s achievement of 30, 000, this year 1,32,000 farmers have been enrolled.
 
Official sources said that  so far crop loan is concerned earlier , the Department of Cooperation directed  the Registrar of Cooperative Societies and Managing Director, Odisha State Cooperative Bank to provide uninterrupted funding to the affected farmers during the current Rabi season.
 
Similarly, DoC clearly instructed that the loan should be disbursed within 15 days of an application.
 
Availability of fresh crop loans during the Rabi season is being widely publicized so that the farming community should not knock the doors of money lenders for the purpose, officials added.
 
Earlier on October 25, the Chief Minister Naveen Patnaik had announced that farmers affected by drought in Kharif season shall be provided fresh finance for cultivation during Rabi Season.
 
Mr.Patnaik has also said that Short-term Kharif loans advanced in the affected areas during Kharif-2017 shall be converted into Medium term (Conversion) loans.
 
The due date of Kharif short-term loans advanced in the affected areas was extended up to September 30, 2018 to facilitate conversion of such loans into medium term (Conversion) loans.
 
For this, the Government of India was requested to provide interest incentive of three Percent for medium term (Conversion) loans i.e., at par with crop loans for prompt-paying farmers, sources said.
 


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