Cooperative bank top in agri loan distribution in MP

Bhopal, Jan 13 (UNI) Cooperative Banks in Madhya Pradesh have stood first in Madhya Pradesh as far as agricultural loan distribution and deposits are concerned.

According to an official release here today, Cooperative Minister Gopal Bhargava said a target to distribute Rs 8,905 crore was given to all banks including commercial, regional rural and cooperative banks in Madhya Pradesh during 2007-08.

During the first six months of the financial year, cooperative banks distributed Rs 2,492 crore worth loans against Rs 2,423 crore worth loans distributed by commercial banks and Rs 876 crore distributed by regional rural banks (RRBs).

Cooperative banks have achieved 74 per cent target, while commercial banks and RRBs have achieved 57-58 per cent.

The Centre has given a target to extend loans to 100 new farmers per branch every year against which Madhya Pradesh has provided loans to 62 farmers per branch by September 30, 2007 on an average.

In this regard, district cooperative banks had provided loans to 88 new farmers per branch against 58 by commercial banks and 39 by RRBs.

Besides, district cooperative banks distributed 2914030 'Kisan' cards -- 67 per cent of total 4341240 cards distributed, the release added.

UNI PS MIR DB2137