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Hooda's concern over slow recovery of cooperative loans

Special Correspondent

`State Govt. has taken several steps to help the farmers in getting cheaper loans'

CHANDIGARH: Haryana Chief Minister Bhupinder Singh Hooda has expressed concern over the slow pace of recovery of cooperative loans and appealed to the loanees of the cooperative banks to repay their loans regularly and in time. Reviewing the progress of recovery of cooperative loans in a meeting with the concerned officers here on Friday, he said that the State Government had taken several steps to help the farmers in getting cheaper and easy loans from the cooperative banks.

Cooperative banks were now giving agricultural loans to farmers at a rate of seven per cent. They borrowed funds from NABARD and other sources. Unless the loans advanced by the banks were paid by the loanees in time, there would be no recycling of funds and these banks would not be in a position to meet the credit requirements of the farmers, he added.

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