Karnataka cooperative department plans to give over Rs 20 crore loan to 30 lakh farmers

Karnataka cooperative department plans loans for farmers

The Karnataka cooperative department ambitions to offer a loan of Rs 20,810 crore to 30 lakh farmers, which was Rs 17,490 crore for 25 lakh farmers in 2020. Cooperation Minister ST Somashekar will personally visit DCC banks after the lockdown is lifted.

Karnataka cooperative department plans to give over Rs 20 crore loan to 30 lakh farmers

Speaking to reporters, he stated, “In the 12 months 2020-21, the branch had set a goal of giving INR 15400 crores as Loan to 245 lakh farmers. But the Apex Cooperative Bank and the 21 District Cooperative Banks gave a loan of INR 17,490 to 2593 lakh farmers, which is 114.70 per cent greater than the goal set via way of means of the branch.”

Somashekar stated as according to Chief Minister B S Yediyurappa’s direction, this economic year they may be placing a better goal, in assessment to the preceding 12 months. A sum of Rs 20,810 crore in loan to 30 lakh farmers are centred for this 12 months. He stated he’ll urge DCC banks to heighten the crop loan drive. “The authorities are dedicated to assisting farmers in distress,” the Cooperation Minister added.

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