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Good response to bank deposit drive

Staff Reporter

KASARAGOD: The deposit mobilisation campaign by various co-operative banks, primary service banks and urban banks in the district has had a good response.

Banks were able to mobilise as much as five times the target, during the past four years, according to the Joint Registrar (General) of the Department of Cooperation.

As many as 47 new co-operative societies, including 16 women societies and 11 urban co-operative societies, came into being in the district during the period. As many as 3,08,005 persons become members of various co-operative institutions in the district.

While the co-operative institutions in the district succeeded in settling Rs. 58.09 crores towards outstanding loans, these institutions also set-off loans of 38,923 persons by granting a total waiver of Rs. 5 crore under the one-time settlement scheme.

Co-operative banks had also granted short-term and medium-term loans besides effecting reduction of interests on loans for farmers during drought seasons. As many as 10.47 lakh farmers would be benefited by implementing the agricultural debt relief scheme announced by the Government.

The primary agricultural credit societies in the district had distributed as much as 53,643 kisan credit cards and disbursed a loan of Rs.71.67 crores to farmers.

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