The Hindu : Tamil Nadu / Erode News : 55,117 kisan cards distributed

Online edition of India's National Newspaper
Thursday, Nov 25, 2004

Tamil Nadu

Tamil Nadu - Erode

55,117 kisan cards distributed

By Our Staff Reporter

ERODE, NOV. 24. A total of 55,117 kisan credit cards were distributed to farmers in Erode district as on date, the Special Officer-cum-Managing Director of Erode District Central Cooperative Bank, K.M. Vellingiri, said.

Talking to The Hindu , he said that kisan cards were disbursed through the 222 Primary Agricultural Cooperative Banks (PACB).

All the kisan cardholders were insured and so far 58 cardholders were granted accident relief fund of Rs. 29 lakhs.

Short-term crop loans

He said it was resolved to distribute Rs. 60 crores as short-term crop loans to farming sector by PACBs and the Central Cooperative Bank during this year and as on date Rs. 48 crores was given.

Remaining amount would be advanced soon. They had rescheduled the crop loan arrears of Rs. 53.20 crores, due from farmers.

In addition, Rs. 1.51 crores had been given as medium term loan to 525 agriculturists.

Loans for the disabled

Mr. Vellingiri said that the Central Cooperative Bank was advancing loans at low rates of interest to physically handicapped persons. An interest rate of five per cent was collected on loans up to Rs. 50,000, 6 per cent for loans ranging from Rs. 50,000 to Rs. 1 lakh, 9 per cent for loans from Rs. 1 lakh to Rs. 5 lakhs and 10.5 percent interest for loans above Rs. 5 lakhs, availed by physically challenged persons.

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55,117 kisan cards distributed