Bhubaneswar: Odisha State Cooperative Bank (OSCB) is at the forefront of providing crop loans to farmers in the state, while private banks are lagging behind.
Thanks to the overdrive of OSCB President T Prasad Rao Dora, OSCB is leading from the front, so far extending Credit is concerned.
Shri Dora and his Team are spearheading Agri Credit as per the ACP Prescription advanced by the State Government.
While Private Banks accounted for 8.2 per cent of the loans disbursed to farmers till the end of September, while OSCB along with District Central Cooperative Banks have disbursed 45.59 per cent of the loan.
According to the information received, the target of lending this year is Rs 58,776.16 crore, while 61.58% of it i.e. Rs 36,192.55 crore has been disbursed till the end of September.
The average amount of each loan is estimated at Rs 72,000. However, of the crop loans disbursed, private banks disbursed only Rs 1,754.54 crore, which is 8.2% of the total loans disbursed.
Similarly, loans of Rs 8286.33 crore i.e. 38% of public sector banks have been disbursed. The Odisha State Co-operative Bank has disbursed 9704.67 crore i.e. 45.59% of the loan.
Similarly, out of the total loans, about Rs 15,000 crore are term loans, out of which 62.18% have been provided by public sector banks and 27.82% by private banks.
Public Sector Bank, Punjab National Bank is at the forefront of agricultural credit. Banks such as Axis Bank 90.04%, UGB 84.64%, Jan Small Finance Bank 163.12%, IDFC First Bank 161.58% have provided good loans, while HDFC, IDBI, ICICI and Odisha Gramin Bank have done well in this regard.
Similarly, Khordha district tops the list of loans given to farmers. Here, 104 per cent of the target has been given to the farmers, while 80.64 per cent in Cuttack, 76.56 per cent in Ganjam, 76 per cent in Sonepur and 74.72 per cent in Nuapada.
These districts are at the forefront of providing agricultural credit, while districts like Keonjhar, Jajpur, Sundargarh and Bargarh are lagging far behind.