State Coop Bank to dole out Rs 8000 cr short-term crop loan this fiscal

Odisha Sun Times Business Bureau
Bhubaneswar, Apr 28:

The Odisha State Cooperative Bank Ltd (OSCBL) has set a target of disbursing Rs 8,000 crore as short-term crop loans during the 2014-15 fiscal, sources in the bank said.

The targeted amount is 13 per cent more as compared to last year’s loan amount.

The bank has also decided to dispense Rs 4,200 crore during Kharif and Rs 3,800 crore during the Rabi crop season.

The apex cooperative body of the state had disbursed loans amounting to Rs 7090.27 crore to 28.66 lakh farmers in 2013-14 fiscal which was 101 per cent of targeted amount of Rs 7,000 crore.

It may be noted here that an average of 65 per cent of crop loan is being provided to the farmers each year by the OSCBL.

A total of 2705 Primary Agriculture Credit Cooperative Societies under 17 Central Cooperative Banks are supporting it in extending the credit amount.

While the current Kharif season started from April 1, the OSCBL has set credit targets for Central Cooperative banks operating in different parts of the state of which the Sambalpur District Cooperative Bank has been given the highest credit disbursement target of Rs 715 crore.

The credit targets set for other 16 Central Cooperative banks are as follows:

Cuttack (Rs 660 crore), Baleswar-Bhadrak (Rs 600 crore), Angul (310 crore), Koraput (210 crore), Khurdha (Rs 200 crore) and Sundargarh (Rs 200 crore), Bolangir (Rs 160 crore), Nayagarh (140 crore), Banki (Rs 150 crore), Brahmapur (Rs 150 crore), Mayurbhanj (Rs 130 crore), Aska (Rs 125 crore), Boudh (Rs 120 crore), Keojhar (Rs 120 crore), Puri-Nimapara (Rs 110 crore) and Bhawanipatna (Rs 100 crore).

The Koraput District Cooperative Bank had registered the highest 118 percent credit disbursement during 2013-14, an OSCBL release said today.