Haryana farmers get cash credit limit

Chandigarh, Jan 27 (UNI) The Hooda Government is reaching out to farmers through Central Co-operative Bank (CCB) with a revolving cash credit limit of up to Rs 3 lakh to enable them to meet any unforeseen domestic, socio-economic and consumption needs.

This is over and above the facility of rotational crop loan of up to Rs 1 lakh extended to them, an official spokesman said today.

He said over Rs 100 crore had already been advanced to the farmers in the state under the scheme.

Sanctioned initially for one year, the credit limit, extended through CCB branches, could be renewed every 12 months for two more years depending upon the dealings of the account holder.

Those wanting to avail the credit must be permanent residents of the area, have at least two acres of cultivable land and must not have defaulted on repayment of the crop loan, he said.

''A farmer meeting these conditions, is made an associate member of the bank and given the credit limit. He is charged ten per cent rate of interest on the money utilised and for the period of time it is drawn,'' he said.

The most significant part of the scheme is that the farmer can use the amount withdrawn to meet any domestic or socio-economic urgency, he added.

UNI