900 cr agriculture loan allocated

Lucknow, June 27 : Uttar Pradesh has made a budgetary allocation of Rs 900 crore for disbursement of agricultural loans to farmers in the current financial year 2006-07.

The total allocation would cover loan for agricultural purposes, loan to procure farm equipment and loan under other related schemes.

Uttar Pradesh Cooperative Rural Development Bank Ltd Chairman Shivpal Singh Yadav today said Rs 783 crore worth of last year's outstanding dues had been collected this fiscal till June 15, which overshot the target.

He informed 72,896 farmers had benefitted from 'Samadhan Yojna', under which a debtor makes a subsidised lumpsum payment against the total loan amount.

''Under it, the repayment is made under an agreement, which is arrived at after waiving interest and penalty interest, if any, thereof,'' Mr Yadav, who is also the state PWD minister, informed.

Till June 15 this year, Rs 170 crore has been collected under the Yojna after giving a total rebate of Rs 25 crore.

Meanwhile, the Bank has also started another scheme, whereby a farmer has the option to get his loan repayment rescheduled by depositing 20 per cent of the due amount.

Mr Yadav asserted the Bank was committed to transparency and simplified work culture, so that the farmers face no hardships in transacting with it.

UNI