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Shimoga DCC Bank offers vehicle loans for farmers

Special Correspondent

Shimoga: President of the Shimoga District Co-operative Central Bank (Shimoga DCC Bank) R.M. Manjunath Gowda said here that the bank was providing loan to farmers at the 3 per cent rate of interest.

Speaking at a function organised by the bank to hand over the keys of vehicles to the beneficiaries of the new vehicle loan scheme, he said the bank had come forward to disburse loan to non-agriculture purposes to farmers.

He said that this scheme would help farmers in leading normal life by availing vehicle loans at 7 per cent rate of interest. Mr. Gowda said that though several projects had been implemented by under the National Horticulture Mission by the Department of Horticulture, the benefits of the scheme were not reaching the farmers. He suggested that farmers should try to set up co-operative sugar mills as this region was dependent upon horticultural crops.

Farmers’ leaders H.R. Basavarappa and K.T. Gangadhar lauded the bank for offering vehicle loan to farmers.

Managing Director of the Shimoga DCC Bank B.A. Mahadevappa welcomed the gathering. He said the bank had sanctioned loans for purchase of 285 vehicles in a fortnight under the new vehicle loan scheme.

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