Southern States - Andhra Pradesh   

APCOB close to achieving target

By Our Special Correspondent

Hyderabad Oct. 13. As against a kharif target of Rs. 1,800 crores, the Andhra Pradesh State Cooperative Bank (APCOB) so far has achieved Rs. 1,352 crores under crop loans.

Addressing a press conference here on Monday, T.D. Janardhan Rao, Chairman, announced extension of cut off dates for various relief and interest rebate packages announced by the Government in drought-affected areas as also non-drought-affected areas.

Under the interest waiver in the drought-affected areas category, the cut off date has been extended up to October 20 for medium and long-term loans (except in case of minor irrigation and horticulture). Similarly, the last date has been extended till December 31 for long-term loans for minor irrigation and horticulture.

Mr. Janardhan Rao said under the interest waiver in other than the drought- affected areas category, the 5 per cent interest rebate scheme on short-term loans of kharif 2002 is extended up to October 20. For 5 per cent interest rebate, in the case of medium and long-term loans except in respect of minor irrigation and horticulture, the cut off date is extended up to October 20.

Under the waiver of penal interest u pto 3 per cent on short term, medium term and long-term overdue loans, and a further reduction of 3 per cent on overdue loans, he said relief would be extended provided the principal and other amounts due are repaid by December 31 in the case of short term crop loans.

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