EDB disburses loans at soft rate
GK NEWS NETWORK
Srinagar, May 12: The Ellaquai Dehati Bank organized two credit awareness-cum-disbursement camps at Kanilwan and Kuller in Dachnipora block for the fruit growers.
The Bank disbursed agriculture loans amounting to Rs 1.15 crore at 7 per cent interest rate under Kissan Credit Card Scheme, besides delivered tractors to the farmers.
Chairman EDB AK Razdan said that KCC enables the farmers to get hassle free revolving credit on easy terms and on soft interest rate of 7 per cent.
“Owing to the huge popularity of the KCC among the farmers, the EDB shall be taking up the issue with NABARD for further softening of the interest rate,” Razdan said.
He said the Bank has a policy to reach out to the small and marginal farmers with the tailor-made schemes so as to enable them to generate avenues for income and to desist them from raising their funds from the informal sector.
He said the bank has a debt swap scheme for those farmers and fruit growers who are presently indebted to the money lenders and is ready to take over their debt.
He said as the fruit industry is the back bone of the state’s economy, “so our bank is committed to play an important role in socio-economic development of the state.”
Meanwhile, the bank officials held an interaction programme with the farmers/fruit growers, who showed their interest in dealing the business with EDB.
Razdan said the Bank is shifting to core banking by June 2011 end and branches at Kanilwan and Kuller will be among the first to migrate to core banking, which can ease out the remittance problems of the growers.
Lastupdate on : Thu, 12 May 2011 21:30:00 Makkah time
Lastupdate on : Thu, 12 May 2011 18:30:00 GMT
Lastupdate on : Fri, 13 May 2011 00:00:00 IST
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