APCOB to disburse agri loans worth Rs 4,000 cr

Hyderabad, Aug 7 (UNI) State Cooperation Minister Fareeduddin Mohammed today said the Andhra Pradesh Cooperative Bank (APCOB) proposed to disburse agricultural loans worth Rs 4000 crore to farmers during the current financial year.

Addressing a press conference here, he said the bank would disburse Rs 2,400 crore during the Khariff and Rs 1,600 crore in Rabi season in the state. The bank had already disbursed Rs 776 crore till July this year.

The APCOB was providing short-term and long-term credit to farmers through 22 District Cooperative Central Banks (DCCBs) and 2,736 Primary Agricultural Credit Societies (PACS) and three lakh new and non-borrowing farmers would be covered this year.

The Cooperation Department was encouraging more and more PACS to distribute fertilizers and seeds and render better services to the farmers.

He said the PACS doing business increased from 745 to 1,435 during 2007-08.

The Andhra Pradesh Government was the first state to enter into an MoU with the Centre and NABARD as part of the implementation of Prof A Vaidyanathan Committee Recommendations.

The total assistance expected under revival package was Rs 2,473 crore, including Rs 2,200 crore of the Centre's share and the state government's share of Rs 273 crore.

Mr Mohammad said 16.77 lakh farmers in 16 districts were covered under Prime Minister's Relief Package with interest waiver at Rs 726.52 crore and rescheduling of loans to the tune of Rs 1,250 crore.

The government had also announced six per cent rebate in interest to farmers on making timely repayment and Rs 186.89 crore provided as rebate to 28.31 lakh farmers from 2004-05 to 2005-06.

UNI