Kaithal: The farmers in Haryana will be given short-term agricultural credit at the rate of seven per cent, which was till now being given at the rate of interest of 10 per cent to them.
This was announced by Chief Minister Bhupinder Singh Hooda, while inaugurating the new building of the District Central Co-operative Bank on Saturday.
As a result of this announcement the farmers will get financial benefit of Rs 108 crore during 2006. The rate of interest earlier was also reduced from 11 per cent to 10 per cent in May 2005.
The Chief Minister also announced that during the year 2006-07 the crop loan of Rs 5400 crore would be given to the farmers as compared to Rs 4400 crore during 2005-06.
The benefit of seven per cent of interest will be available on all loans taken by the farmers after April 1 2006.
The Chief Minister also disclosed that in order to provide credit facility to the farmers at their doorstep the number of branches of Cooperative Banks had been increased from 358 to 600 in the State.
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