1. Agriculture World

30 lakh farmers will receive crop loans worth Rs 20,810 crore in 2021-22

Chintu Das
Chintu Das

S T Somashekar, Karnataka's Minister for Cooperation, announced on Monday that over 30 lakh farmers in the state will receive Rs 20,810 crore in crop credit loans this year. 

Following a meeting with officials, he stated that 114.70 lakh farmers had met their surplus targets through crop cultivation, and that the existing line "Our farmers' class should not be disturbed for whatever reason" should be maintained. The decision was made in response to the Chief Minister's request that more than 30 lakh farmers receive additional loans. 

For 2020-21, a target of Rs 15.400 crore in short-, medium-, and long-term loans to 24.50 lakh farmers has been set. Our Apex Bank and 21 DCC Banks have given loans to 25,93,982 farmers totaling Rs 17,490 crore. 

Because of the difficulty caused by the COVID pandemic, 100% of the aim was met, resulting in a score of 114.70. He claimed that his government had responded to the farmers' plight. 

At a cost of Rs 20,810 crore, 21 DCC banks have already been told to reach out to 30 lakh farmers this fiscal year. When the lockdown is lifted, I propose that agricultural loans be made available to the state's farmers. 

After the state's lockdown is removed, the Minister said he will visit all 21 district cooperative central (DCC) banks. In the previous financial year, about 5-6 DCC banks failed to meet their 100% target for lending loans to farmers, he added. 

Like this article?

Hey! I am Chintu Das. Did you liked this article and have suggestions to improve this article? Mail me your suggestions and feedback.

Share your comments

Subscribe to our Newsletter. You choose the topics of your interest and we'll send you handpicked news and latest updates based on your choice.

Subscribe Newsletters