Rs 1,430 crore loan schemes for Kodagu

Zilla Panchayat Chief Executive Officer N Krishnappa released the Nabard loan scheme bonds at a district-level review meet at the Corporation Bank Hall here on Thursday. It has been decided that 60 per cent of the loans will be reserved for agriculture sector.

Accordingly, out of Rs 1,430.21 crore, Rs 860.41 crore will be reserved for agriculture sector. Priority has been given for agriculture sector since the district has large area of coffee, pepper, cardamom, paddy and corn fields.

A total of Rs 338.45 crore will be distributed as instalment loans for agriculture sector, while Rs 13.03 crore will be distributed as loans for irrigation. A total of Rs 16.01 crore will be reserved for agriculture land development, while horticulture sector will receive loans to the tune of Rs 211.72. Similarly, dairy farming sector will get loans worth Rs 6.21 crore.

Krishnappa said that the government departments and banks should strive to distribute the loans successfully. Banks should strive to achieve the goal in distributing loans, he added.