Farmers of Chhattisgarh received crop loans of over Rs 2,500 crore. The loan has been disbursed by State Cooperative Bank (APEX Bank) during the ongoing kharif season in Chhattisgarh.
APEX Bank has set a target to disburse Rs 2,800 crore interest-free short-term agriculture loans during Kharif season 2016-17 through its primary agriculture cooperative societies.
Ashok Bajaj, chairman of the bank said, Sum of the 2, 500 crore have so far been disbursed, at the interest rate of 0 %, to 9.29 lakh farmers as short term crop loan which is 91.39 % of the set target.
Out of the total loans distributed, Rs 17, 477 crore has been distributed as cash while Rs 8, 119 crore in form of agricultural related materials, he said.
As per the policy of government, farmers of state are being provided short-term agricultural loan without interest for both kharif and rabi season.
The last date of loan distribution is September 30. The interest incurred on loans given to farmers borne by State Government and Centre.