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Rabi crop loans out of reach for farmers

rabi crops

Bhubaneswar: While the State Government had announced about Rs 5000 crore worth of Rabi crop loans for this season, the farmers are yet to get the same even as the success rate of funds deliverance is below 10 per cent in most Central Cooperative Banks, the apex transfer loans agencies in state.

As per sources, up until January 15, only Rs 1,050 crore worth of loans out of Rs 5000 have been paid to the famers through cooperative banks.

All this has been the noisy outcomes of the demonetization impacts, the cooperative agencies said. The government had stipulated the crop loans for as many as 2, 74,289 farmers this season.

In the meantime the Rabi season has gone three months past but farmers are yet to see the money that they would be very much willing to spend for buying seeds, fertilizers, and other allied materials.

Notably, the funds are generally paid by CCBs through primary cooperative agencies. As per sources barring some 2 to 3 CCBs the rate of payment of funds is extremely plummeting in other banks.

In Mayurbhanj, 48 per cent of total loans have been paid while in Banki CCB 47 per cent of loans have been paid, 35 per cent in Cuttack CCB, 25 per cent in Balasore CCB. Other CCBs have not even crossed the 25 per cent mark.

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