Farm credit worth Rs 1.38 lakh crore disbursed in H1
New Delhi: Banks and co-operatives have
disbursed farm loans to the tune of Rs 1.38 lakh crore in the
first half of 2009-10, meeting over 42 per cent of the target
set by the government for the whole financial year.
"Rs 1.38 lakh crore has been disbursed to farmers across
the country as agriculture credit up to September, 2009....
The target to be achieved during 2009-10 is to the tune of Rs
3.25 lakh crore," an official statement said here today.
Of the farm loans offered till September, commercial
banks account for 92,595.08 crore, co-operatives Rs 27,704.85
crore and regional rural banks Rs 17,531.31 crore, it added.
While the government has set a target of disbursing farm
loans worth Rs 2.5 lakh crore for commercial banks, both
co-operatives and regional rural banks are supposed to extend
credit to the tune of Rs 45,000 crore and Rs 30,000 crore,
respectively, during this fiscal.
Presenting the Budget 2009-10, Finance Minister Pranab
Mukherjee had announced farm loans at a subsidised interest
rate of six per cent for those who pay their dues in time and
raised the agriculture sector credit target by 16 per cent to
Rs 3,25,000 crore this fiscal.
At present, farm loans are extended at an interest rate
of seven per cent per annum.
Bureau Report