Kharif loans disbursal in Vidarbha to be completed by Nov 30: Thorat

Nagpur, Nov 4 (UNI) The National Bank for Agricultural and Rural Development (NABARD) has geared up to disburse Rs 1,887 crore Kharif loans by November 30 in Vidarbha as envisaged under the Prime Minister's relief package for farmers in the region.

Adressing a press conference here today, NABARD chairman Dr Y S P Thorat said collectors of six districts, where the package is being implemented, have been told to ensure that every eligible borrower gets the loan, while banks have been asked to hold credit camps to ensure the target is achieved by the end of the month.

Dr Thorat said loans worth Rs 1,595 crore had already been disbursed to farmers in Vidarbha under the package, while Rs 292 crore is still to be distributed. The district collectors would hold meetings with NABARD officials and other banks by November 10 to prepare a list of farmers who were eligible for fresh loans after the waiver of interest and rescheduling of their existing loans, he said.

In reply to a question, Dr Thorat said NABARD had lent the amount to Maharashtra State Coopertive Bank (MSCB) at an interest rate of 2.5 per cent. ''The final interest rate works out to be 7 per cent, but the net rate for the farmer works out to 6 per cent since the Government of Maharashtra has alredy announced a subsidy of 1 per cent, which it will pay to the disbursing banks,'' Dr Thorat said.

The Kharif loans were part of the credit component of Rs 2,619 crore in the Prime Minister's package, Dr Thorat said. The credit component included another Rs 213 crore for Rabi loans and Rs 519 crore for investment credit, he also said.

Dr Thorat said the disbursement of loans during the current Kharif season compared 'very favourably' with Rs 686 crore disbursed during the entire financial year 2005-2006.

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