In a bid to help the farmers in the present Covid-19 crisis, the veteran cooperator from Gujarat and IFFCO Vice-Chairman Dileepbhai Sanghani has launched a scheme namely ‘Revolving fund’ to help the farmers of Amreli district of Gujarat.
The scheme aimed to clear the outstanding loans and protect them from paying higher interest.
Sharing more details with Indian Cooperative Sanghani said, ” The government has given relaxation on EMI but farmers are failing to pay their dues on time due to which they are forced to pay heavy outstanding interests.
In a bid to help farmers, several days back I have personally appealed to several businessmen and industrialists in Amreli district to come to the rescue of farmers by giving a contribution without any interest to CARD”.
Under the scheme, through the Centre for Agriculture and Rural Development (CARD) Sanghani is helping those farmers who have failed to sell their produce in the current situation due to which they are also not able to clear the outstanding loans on time.
“On my appeal so far Rs 7 crore has been deposited by big business men in Amreli district. For instance, if a farmer failed to pay the outstanding crop loans on time due to which interest on loan is increasing then farmers will take the money from CARD without any interest for clearing their dues to the bank.
Then the bank will provide a fresh loan to a farmer and after getting a cheque from the bank then the farmer will deposit the same cheque to CARD”, Sanghani added while giving an example.
He further added that the scheme is not only for protecting them from paying higher interest but also preventing them borrowing money from big money lenders who charge higher interests. Scores of farmers benefit from the scheme.
Sanghani further added, this is the first of its kind initiative taken and hundreds of farmers who took loan from Amreli District Central Cooperative Bank are able to pay their dues.
Over 3,000 farmers will benefit from the scheme and around 500 farmers have availed benefit so far.