NDCCB starts disbursement of crop loans to farmers for Kharip, Rabi seasons

Source: The Hitavada      Date: 20 May 2017 08:45:30

Staff Reporter,

Disbursement of crop loans for Kharip and Rabi seasons to farmers has been started by Nagpur District Central Co-operative Bank (NDCCB). The kharip crop loan of Rs 25 crore for 3,647 member farmers has been made available. District Collector Sachin Kurve said that the target for kharip crop loan to the farmers was Rs 45 crores. Kurve was addressing the review meeting of bank officials at district collector’s office. Chief Executive Officer Sanjay Kadam, Special Executive Officer Satish Nikam, member of officers committee Anil Patil and other bank officials were present.

Nagpur District Central Co-operative Bank (NDCCB) has adopted a policy of disbursement of loans to farmers as per their requirements. It is because of drought like situation, the recovery of agriculture loan was not possible. Those who have not repaid the loans, had given a concession of 50 percent on interest, so that they could avail new loans. 3,920 members had availed the facility and Rs 19 crores 20 lakhs were recovered from them. As farmers had given positive response to this scheme, the loan scheme has been extended till June 30, Kurve stated.

Farmers who are returning the loans could convert their loans in 50 percent concession in interest scheme, they could avails new loans and could also get benefit of zero interest scheme of Government by availing new loan of Rs one lakh. Farmers should take advantage of this new scheme, he added.

NDCCB has been facing financial crisis and Reserve Bank of India has allowed to keep capital to risk-weighted assets ratio (CRAR) upto 9 percent. NDCCB has raised CRAR upto 10.18 percent. The bank has earned profit of Rs 3 crore 82 lakhs till March 31, 2017. The NPA of non agriculture loan was Rs 116 crores but it was reduced till March 31 upto 65 percent and now it is reduced upto Rs 39.07 crores. All the financial work of bank has been regularised, Kurve stated.