Chhattisgarh state cooperative bank has distributed loans to the tune of Rs.1600 crore among farmers for sowing and allied agricultural operations.
The bank claimed it would provide farmers with nearly 3 thousand crore loans through primary cooperative societies at a negligible interest of 1 percent this year.
A bank official said, the amount of agricultural credit has been spiked this year with a view to meeting the increased credit needs of the primary agriculture societies.
The reduction in interest rate was aimed at making lending more successful. The bank would provide loans for the Rabi season as well, the bank official announced.