Tamil Nadu - Erode   

`Rs. 1,024 crores advanced as gold loan'

Staff Reporter

Rs. 311 crores given as short-term crop loan to 93,000 farmers: official

ERODE: The Erode District Central Cooperative Bank and the Primary Agricultural Cooperative Banks (PACBs) have advanced Rs. 1,024 crores as gold loan to 8,28,436 persons during the last four years, said the Special Officer, Erode District Central Cooperative Bank, K.M. Vellingiri. He said the borrowed amount was repaid properly, as the recovery percentage was very encouraging.

He said the bank had advanced Rs. 311 crores as short-term crop loan to 93,000 farmers in four years.Gold loan for agriculture had picked up as within nine months Rs. 16 crores had been granted by the Primary Agricultural Cooperative Banks (PACB).

He said Rs 20 crores had been earmarked for the grant of gold loan for agriculture to farmers and each farmer would get the maximum of Rs 2 lakhs and Rs 3,600 as loan for a sovereign. This year Rs 200 crores would be advanced as jewel loan.

In addition, crop loans were given to the farming community.

It had been decided to advance Rs. 65 crores as crop loan. Of this, Rs. 52 crores had been granted, he added.

Mr. Vellingiri said that the interest was only 9 per cent, two per cent less than the regular gold loan.

Further, the crop loan interest was also high. By the end of March, the PACBs may advance Rs. 25 crores.

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

Stories in this Section

Motorcycles given for night patrolling in 10 villages
`Rs. 1,024 crores advanced as gold loan'
Overflowing sewage affects traffic in Bazaar area

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu