Cooperation department to disburse Rs 20,810 crore loan this year

The cooperation department will disburse crop loans worth Rs 20,810 crore to around 30 lakh farmers in the 2021-22 fiscal.

According to Cooperation Minister S T Somashekar, the measure is to ensure easy financial assistance to farmers ahead of cropping seasons.

In the last fiscal, the department had set a target to provide Rs 15,400 crore as short, medium and long-term loans to farmers. Against this, Apex Bank and 21 DCC banks disbursed Rs 17,490 crore and achieved 114% target, he said.

The loan last year was provided to 25.93 lakh. This year, based on the directions of Chief Minister B S Yediyurappa, more farmers will be offered loans for agricultural purposes, Somashekar said.

The target is set based on discussion held with various DCC Banks and department officials, he said, adding that all cooperative banks have been issued strict instructions to ensure that the loan target is reached.