Tamil Nadu - Erode   

Rs. 100-crore loan to farm sector

Staff Reporter

ERODE: Credit support of up to Rs. 100 crores would be advanced to the farming sector by Canara Bank, the lead bank of the district, said the Assistant General Manager (AGM) of the bank here, S.V. Krishnamoorthy.

At a farmers meet organised recently by the Modakurichi branch of the Bank, the AGM said that last year Rs. 10.75 crores was sanctioned as crop loans to the farmers in the district.

The Bank also advanced subsidy loans for drip irrigation. He exhorted farmers to adopt modern technology in agriculture for better yield.

The Bank, in collaboration with NABARD, would launch a dairy development loan programme through which fifty per cent subsidy-oriented loans would be disbursed to dairy farmers.

The Bank would provide free training and credit facilities for self-help groups that could come up with a proposal to produce textiles for large-scale export. He urged the bankers to liberally advance educational loans to the needy.

The lead district manager, K. Palanivel, asked the farmers to open more rural godowns, for which the banks provided loans with 25 per cent subsidy.

The village committee president, A.P. Palanisamy, asked farmers to repay loans in time. Mr. Krishnamoorthy distributed loans to 200 farmers.

Printer friendly page  
Send this article to Friends by E-Mail

Tamil Nadu

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts: Classifieds | Employment | Updates: Breaking News |

Stories in this Section

Rs. 100-crore loan to farm sector

Copyright © 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu