Karnataka to increase agriculture lending in cooperative sector
The Hindu
To help farmers hit by the COVID-19 lockdown
Karnataka has increased the target for agriculture lending in cooperative sector by about 14% this financial year over 2020-21 to help farmers who are in distress due to the COVID-19 induced lockdown. Chief Minister B.S. Yediyurappa said on Monday that ₹20,810 crore will be lent to nearly 31 lakh farmers during this year, an increase of 13.97% over 2020-21 when a total of ₹17,901 crore had been disbursed to about 26 lakh farmers. The Chief Minister explained while 30.26 lakh farmers will receive ₹19,370 crore in short-term loans at the rate of zero per cent interest, about 60,000 farmers will receive ₹1,440 crore mid-term and long-term loans at 3% rate of interest.
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