In a bid to enable farmers to access higher institutional finance in the current marketing season, Punjab State Cooperative Bank will give an additional Rs 400 crore to farmers as term loans, reports the Tribune.
Loans will be given through PACS. The bank will be able to carry out its obligation because NABARD has increased refinance to the bank from Rs 3,800 crore in2019 to Rs 4,200 crore this year.
The bank’s better recovery rate of previous loans has helped the bank get additional refinance from Nabard.