Kharif crop loan

• Punjab extends repayment of Kharif crop loans by March 31

Chandigarh, February 14:

With a view to pass the benefits of interest subsidy on crop loans to farmers during the current Rabi season, the state cooperation department has advised its member tillers to deposit their recovery payments by March 31 on such loans taken during Kharif 2017. This offer was made by additional chief secretary cooperation DP Reddy during a state level review meeting of the department here today.

He informed that the members of primary co-operative agriculture societies in Punjab must avail benefits to get the interest subsidy of 3 percent by paying pending their crop loans pertaining to Kharif 2017 and could receive crop loans for current Rabi season besides deposits of debt relief amounts into their accounts.

He asked the field officials of cooperative department and bank employees to aware the members of all coop societies that the debt relief announced by the state government would not be affected due to recovery of their debt because the basis of debt relief scheme was the amount standing in their account by March 31, 2017. “So all the official should reach to the farmers and motivate them to keep and clear their transactions with the societies. Concerned officials also inspire the tillers to become eligible beneficiaries for getting the benefit of subsidies on interest by paying crop loans timely,” he stressed.

Present in the meeting Registrar Co-operative Societies Arvinder Singh Bains informed that State government has extended the loan recovery period for repayment of crop loans taken for Kharif in 2017 by March 31 this.

Additional chief secretary cooperation has directed the field officials to work untiringly in the context of debt relief and made their reach to all the members of cooperative societies for recovery of loans and aware them that state government has deposited the debt relief amount into the accounts of eligible members who have paid their dues to the societies timely.

He lauded the efforts of employees as well as member farmers of Moga, Jalandhar, SBS Nagar, Kapurthala and Sangrur districts who have become eligible to avail interest subsidy of 3 percent by depositing their recovery amounts to the societies and banks. During the meeting Reddy asked the concerned officers to quickly develop the mobile application for custom hiring of agricultural equipments on rent and aware the farmers to shun the stubble/residue burning.

Among others present in the meeting included special secretary cooperation Gaggandeep Singh Brar, managing director Markfed Arshdeep Singh Thind and audit officers, district managers of cooperative banks, joint registrars and deputy registrars from all the districts.


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