Bihar: Cooperative banks to soon provide interest-free, short-term loans to farmers

The Bihar government said that state cooperative banks would soon provide interest-free, short-term agriculture loans to farmers.

Under this initiative, farmers will be given credit for meeting their financial requirements of agricultural and other allied activities along with post-harvest expenses, an official said.

Dipak Kumar Singh, Additional Chief Secretary (ACS), Bihar Cooperative Department, said: ”The state government is making all possible efforts for the welfare of stakeholders associated with the cooperative sector, including farmers. The department is in the process of providing interest-free, short-term agriculture loans to farmers, having Kisan Credit Card (KCC).” ”In order to strengthen the Primary Agricultural Credit Societies (PACS), the state government has decided to develop them as Common Service Centres (CSC), which will provide 300 common services to people in rural areas. Work to develop 1,000 PACS as CSC has already started,” he said here at an event on Tuesday to mark the 70th All India Cooperative Week 2023.

Speaking at the function, Cooperative Department Minister Surendra Yadav said the ‘Mahagathbandhan’ government in the state has taken several steps for cooperatives as well as farmers.

”Small and marginal farmers play an important role in the overall development of the state. We will soon come up with several incentives for them. Our cooperative banks have continuously been in profit… and are successfully implementing procurement and other cooperative schemes,” he added.