Widespread monsoon across Chhattisgarh has boosted farming activities in the state and crop loans of Rs 1,600 crore have been disbursed to farmers in kharif-rabi season.
"The rapid progress of the monsoon in the past couple of days has boosted sowing and other farming activities. So far, Rs 1,583 core crop loan has been disbursed to farmers, which is Rs 267 crore higher than the disbursement last year during the same period," a Chhattisgarh State Cooperative Bank (apex bank) official said on Monday.
This year, Rs 3,000 crore crop loan will be made available to the farmers through primary cooperative societies at a rate of 1 per cent interest per annum, the official said. To boost lending, the interest rate was lowered and farmers were seen taking much advantage of it, he said.
In view of the performance and credit requirement of the primary agriculture cooperative societies, this year the amount of the farm credit has been raised.
Also, Rs 2,300 crore will be disbursed in the ongoing kharif season and Rs 700 crore crop loan in Rabi season during this year, the official added.