Darbhanga, May 10: At least 50,000 farmers of Darbhanga district will be benefited from a rebate on agricultural loan announced in the Union Budget, 2008-09.
District Co-Operative Officer Manoj Kumar said here today that the farmers, associated with the 180 Primary Agriculture Co-Operative Societies (PACS), were sanctioned loans of Rs 23 crore for Rabi and Kharif crops by Darbhanga Central Co-Operative Bank (DCCB) till 2003.
Some of the farmers had paid a few installments but the majority of them had failed to do so following natural disasters, including floods, Mr Kumar said, adding that the DCCB had remained closed in the meantime, affecting the farmers, as the PACS were unable to procure the loans.
Following the announcement of rebate on agricultural loan by the Centre, the strategy for its execution had been prepared and the amount would be paid to the department through the National Bank for Agriculture and Rural Development (NABARD), Mr Kumar informed.
Almost all of the PACS had sent the details of the loans, sanctioned to the farmers till 2003, for which auditing work was under progress, he added.