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Saturday, Apr 10, 2004

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Agri-Biz & Commodities - Farm credit


Bankers' panel fiat on crop loans

Our Bureau

THIRUVANANTHAPURAM: The Thiruvananthapuram District Level Bankers' Committee, which met in the city on April 8, has directed banks in the district to adopt a liberal approach towards sanctioning loans for drought-hit farmers.

The committee has recommended that banks tailor loan schemes to the needs of farmers. Besides, it has also instructed banks to convert crop loans and short-term loans into to mid-term loans. Waiver of penal interest on loans is another step the committee has recommended.

Officials of the agriculture department who were present at the meeting, briefed the committee on the affects of the drought in the district. The drought has affected 1,910 hectares of paddy crop and 127 hectares in banana, vegetable and betel nut, said officials.

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