An official associated with the state cooperative bank in Chhattisgarh has said the state govt has distributed crop loans to the tune of Rs 1316 crore far exceeding the amount disbursed last year in the same period.
The govt has a total loan target of Rs. 3000 crore this year, he added.
According to the official, primary cooperative societies are playing an important role in the distribution of loans to farmers.
The govt’s policy to give short term crop loans on a negligible interest has been extremely popular with farmers.The cooperative bank official claimed a significant reduction in the interest rate has worked wonders in Chhattisgarh.