Given the lack of refinance support from Nabard, credit available from cooperatives in Odisha is not enough to meet the increasing demand for crop loan from farmers when kharif season is in full swing, reports Indian Express.
A number of district central cooperative banks have expressed their inability to provide further funds for crop loans. Sources privy to the development say Nabard has yet to offer the refinance facility for the current year.
Meanwhile, there are reports suggesting Nabard’s financial support is expected to be available only after August 15. The cooperative banks give crop loans to the farmers up to 65 per cent of the total loans disbursed by all commercial banks operating in Odisha.