The State has managed to disburse about 6.3% more agriculture loan in cooperative sector this financial year over the previous fiscal despite the financial constraints due to COVID-19.
While ₹13,500 crore had been disbursed in the previous financial year, this year the agriculture loan in cooperative sector stood at ₹14,420 crore benefiting about 19.17 lakh farmers, a statement from Cooperation Minister S.T. Somashekar said on Sunday. “Though during the initial days it looked difficult to disburse the loan due to economic slowdown caused by COVID-19, the State is well on course to meet the target this year,” he said.
The cooperative sector loan target has been kept at ₹15,300 crore to benefit 24.4 lakh farmers during 2020-2021. “We are hoping to reach out to all 24.4 lakh farmers with loan disbursal shortly,” the Minister said, adding that the grievances of loan disbursal being irregular has been addressed.