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Andhra Pradesh: Farming sector to get boost from NABARD aid
- NABARD provides Rs 100 crore for each District Cooperative Central Bank in the State to help farmers start farming operations
- Under the credit facility, each farmer who is having 1.50 acres extent of agriculture land, is eligible to get Rs 1 lakh with zero interest for one year
Srikakulam: Credit facility provided by the National Bank for Agriculture and Rural Development (NABARD) will give a major boost to farming sector in the coming kharif season.
With this facility, farmers will get crop loans in rural areas to launch farming operations.
NABARD provided Rs 100 crore for each district cooperative central bank (DCCB) in the state equally and total funding is Rs 1,300 crore.
The DCCBs in all districts will equally distribute these funds to primary agricultural cooperative societies (PACS). As per norms DCCBs in all districts are supervising functions at PACS. The district has 49 PACSs, which are under control of the DCCB.
Each PACS will get Rs 2,00,04,000 crore and total 49 PACSs will get Rs 99,00, 96,000 in Srikakulam district. A farmer, who is having 1.50 acres extent of agriculture land, is eligible to get Rs one lakh with zero interest for one year.
"Small and marginal farmers in rural areas can get loan facility for cultivation of crops which is helpful for their farming activities and to prevent circulation of private money lending," Srikakulam DCCB Chairman, Palavalasa Vikranth told The Hans India.
"Staff at our PACS will identify eligible farmers in their respective jurisdictions and basing on it, we will sanction loans to farmers," Chief Executive Officer of Srikakulam DCCB, Datti Satyannarayana told this newspaper.
