Chhattisgarh government has so far disbursed crop loan amounting to Rs 1,300 crore, as against the total loan target of estimated Rs 3,000 crore in this year's Kharif-Rabi season.
"State government's decision to reduce the interest on short-term crop loans is witnessing tremendous response from the farmers.
"Till July 8, crop loan worth around Rs 1,316 crore was disbursed, which is Rs 381 crore higher than the disbursement of last year during the same period," an official here with Chhattisgarh State Cooperative Bank (Apex Bank) said on Friday.
"This is the second consecutive year when the government is providing crop loan at the rate of 1 per cent of interest per year.
This year, the target is to provide Rs 3,000 crore crop loan to the farmer through the Primary Cooperative Societies," the official added.
To boost the lending, the interest rate was lowered and so far it has been seen that the farmers are being benefited through it, the official said.
According to the official, Rs 2,300 crore alone will be disbursed in the ongoing kharif season while Rs 700 crore crop loan in Rabi season during this year end of the total target.
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