The Hindu : Tamil Nadu News : “Banks should strive to achieve Rs.1,032-crore farm loan target”

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Saturday, Nov 28, 2009
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Tamil Nadu

Tamil Nadu

“Banks should strive to achieve Rs.1,032-crore farm loan target”

Special Correspondent

VILLUPURAM: Bankers should strive to achieve the farm loan target of Rs.1,032 crore for the current financial year 2009-10, said R. Palanisamy, District Collector, here on Friday.

He was addressing a review meeting with bankers. The Collector said that till October 2009 the banks had disbursed farm loans to the tune of Rs.556.84 crore, which was 54 per cent of the target.

As only a few months were left in the current fiscal, the banks should put in extra efforts to accomplish the task. The banks should not hesitate to provide farm loans and if they were not considerate enough it would impact food grain production, which in turn would trigger inflationary trend and put the common man in trouble, he said.

The Collector called upon banks, primary agriculture cooperative banks and farmers’ associations to spread awareness among the farmers about the benefit of the crop insurance scheme that would offset crop loss during drought and floods.

The demand of the farmers that the interest waiver scheme, at present available in the agricultural cooperative banks, should also be extended through the nationalised banks would be conveyed to the government.

Aid to SHGs

The Collector said that the district was at the forefront in terms of giving revolving funds to the Self-Help Groups. During his recent visit to the district, Deputy Chief Minister M.K. Stalin disbursed revolving funds to a total of 3,700 SHGs, said to be the highest number to be benefited in a single stroke. The second-highest elsewhere was 3,500 SHGs, the Collector said. Similarly, the banks should also clear about 2,000 educational loan applications pending with them. It showed that candidates in the rural areas were keen on pursuing higher education and therefore the onus was now on the banks to help them realise their ambition.

The Collector called upon the banks to process all the educational loan applications before November 30 as a loan mela was proposed to be held here in the first week of December in which Higher Education Minister K.Ponmudy would hand over cheques to the candidates.

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