by Haryananewswire (Balbir)
CHANDIGARH, DEC 24
The Haryana State Cooperative Apex Bank Ltd. (HARCO BANK) has enhanced the Maximum Credit Limit (MCL) of Rural Artisans and Petty Shopkeepers members of Primary Agricultural Credit Societies (PACS) from Rs 25,000 to Rs 35,000.
While giving this information here today, Financial Commissioner and Principal Secretary, Cooperation Department Mr. Krishana Mohan said that the Central Cooperative Banks in Haryana have disbursed Short and Medium term loans amounting to Rs. 3509.38 crores to the farmers for various purposes from January to November 2011. He said that the percentage of recoveries at Apex bank level during the year 2010-11 was 99.94 per cent as compared to 99.93 per cent during the year 2009-10. The Bank earned profits of Rs 5.01 crore during the year 2010-11 after wiping out losses of Rs 17.94 crore during the year 2009-10.
He said that the State Interest Subvention Scheme-2010 for timely repayment of members of PACS has been implemented and farmers who repaid their crop loans availed from March 1, 2010 to February 28, 2011 on or before dates, a rebate in interest amounting to Rs 8.58 crore to as many as 3,53,605 loanee members has been provided. Apart from this the State Government has also decided to waive off loans upto Rs I0, 000 alongwith interest of Rural Artisans, Petty Shop-keepers and Landless Labourers members of PACS who were overdue as on June 30, 2009.
Mr. Krishana Mohan said that with an aim to safeguard the interest of farmers, the State Government has implemented the Haryana Relief of Agricultural Indebtedness Act, 1989. As per provisions of this Act, Cooperative Banks could not recover interest more than the principal amount irrespective of periodicity of overdue loan. Personal Accident Insurance Scheme was also implemented for Kisan Credit Card (KCC) holders for the first time and implemented by Furture Generalli India Insurance Company Ltd. Under the scheme as many as 8,34,181 farmers were covered and 146 claims were paid amounting to Rs 4838696.00.
Mr. Krishana Mohan further said that Revolving Cash Credit. Scheme for releasing surplus land mortgaged by farmers in excess of one and half times over and above the loan amount based on present valuation of land has been implemented by all the District Central Cooperative Banks (DCCBs). Under this scheme, 2058 farmers aggregating to 6373 acres of land have been released so far.
He said that the Haryana State Cooperative Agriculture and Rural Development Bank (HSCARDB) have advanced Rs 26027.58 lacs to as many as 9171 beneficiaries from Jaunary1, 2011 to November 30, 2011. He said that while loans for the purpose of Non Farm Sector, Rural Housing and Purchase of land are being advanced at the rate of 14 per cent per annum with effect from November 5, 2011,the all other loans were being advanced at the rate of 13 per cent per annum. A 5 per cent rebate was allowed on all slabs to regular paymasters, he added.
He said that the State Government has further announced a scheme of interest subvention at the rate of 5 per cent to the welfare of farmers by covering those who were regular in their repayments of loans. The Bank has provided interest subvention to 16,681 beneficiaries so far amounting to Rs 1008.99 lacs from January 1, 2011 to September 30, 2011.
Throwing light on strenuous efforts made by the Cooperative Movement in transforming the rural economy of Haryana he said that the movement has provided a number of services including financial assistance for boosting their professional activities. To ensure the benefit of various schemes to percolate to all sections of people. large number of new cooperative societies have been registered. Presently more than 35000 cooperative societies of various types with a membership of more than 57 lacs are working for the welfare of people of Haryana.
CHANDIGARH, DEC 24
The Haryana State Cooperative Apex Bank Ltd. (HARCO BANK) has enhanced the Maximum Credit Limit (MCL) of Rural Artisans and Petty Shopkeepers members of Primary Agricultural Credit Societies (PACS) from Rs 25,000 to Rs 35,000.
While giving this information here today, Financial Commissioner and Principal Secretary, Cooperation Department Mr. Krishana Mohan said that the Central Cooperative Banks in Haryana have disbursed Short and Medium term loans amounting to Rs. 3509.38 crores to the farmers for various purposes from January to November 2011. He said that the percentage of recoveries at Apex bank level during the year 2010-11 was 99.94 per cent as compared to 99.93 per cent during the year 2009-10. The Bank earned profits of Rs 5.01 crore during the year 2010-11 after wiping out losses of Rs 17.94 crore during the year 2009-10.
He said that the State Interest Subvention Scheme-2010 for timely repayment of members of PACS has been implemented and farmers who repaid their crop loans availed from March 1, 2010 to February 28, 2011 on or before dates, a rebate in interest amounting to Rs 8.58 crore to as many as 3,53,605 loanee members has been provided. Apart from this the State Government has also decided to waive off loans upto Rs I0, 000 alongwith interest of Rural Artisans, Petty Shop-keepers and Landless Labourers members of PACS who were overdue as on June 30, 2009.
Mr. Krishana Mohan said that with an aim to safeguard the interest of farmers, the State Government has implemented the Haryana Relief of Agricultural Indebtedness Act, 1989. As per provisions of this Act, Cooperative Banks could not recover interest more than the principal amount irrespective of periodicity of overdue loan. Personal Accident Insurance Scheme was also implemented for Kisan Credit Card (KCC) holders for the first time and implemented by Furture Generalli India Insurance Company Ltd. Under the scheme as many as 8,34,181 farmers were covered and 146 claims were paid amounting to Rs 4838696.00.
Mr. Krishana Mohan further said that Revolving Cash Credit. Scheme for releasing surplus land mortgaged by farmers in excess of one and half times over and above the loan amount based on present valuation of land has been implemented by all the District Central Cooperative Banks (DCCBs). Under this scheme, 2058 farmers aggregating to 6373 acres of land have been released so far.
He said that the Haryana State Cooperative Agriculture and Rural Development Bank (HSCARDB) have advanced Rs 26027.58 lacs to as many as 9171 beneficiaries from Jaunary1, 2011 to November 30, 2011. He said that while loans for the purpose of Non Farm Sector, Rural Housing and Purchase of land are being advanced at the rate of 14 per cent per annum with effect from November 5, 2011,the all other loans were being advanced at the rate of 13 per cent per annum. A 5 per cent rebate was allowed on all slabs to regular paymasters, he added.
He said that the State Government has further announced a scheme of interest subvention at the rate of 5 per cent to the welfare of farmers by covering those who were regular in their repayments of loans. The Bank has provided interest subvention to 16,681 beneficiaries so far amounting to Rs 1008.99 lacs from January 1, 2011 to September 30, 2011.
Throwing light on strenuous efforts made by the Cooperative Movement in transforming the rural economy of Haryana he said that the movement has provided a number of services including financial assistance for boosting their professional activities. To ensure the benefit of various schemes to percolate to all sections of people. large number of new cooperative societies have been registered. Presently more than 35000 cooperative societies of various types with a membership of more than 57 lacs are working for the welfare of people of Haryana.
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