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Agriculture minister asks banks for advancing more loan to farmers

11/02/2021 at 1:14 PM

Bhubaneswar, Feb 11: Expressing concern over the fall in farm funding in Odisha, Agriculture and Farmer’s Empowerment Minister Arun Kumar Sahu has asked banks to lend more agricultural loans in this fiscal.

Addressing the Bankers’ meet held on Wednesday, Sahu emphasized on various farmer welfare projects of the state governments. He stated that Odisha could not achieve 18% farm loans as per the guidelines of the Reserve Bank of India(RBI) in previous fiscal year.

He  asked 324 Commercial banks, 68 private banks, 42 rural banks and 66 co-operative banks to raise their target this year.

During this agricultural-year, farmer loan to the tune of Rs 200 crore is expected to be sponsored by different banks. About five hundred farmer entrepreneurs are to be included in as many as 92 farm projects, said Sahu.

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