Nabard has decided to launch Rs 58000 crore crop credit plan for the current year, up from the last year’s Rs 52000crore, reports Times of India.
In a meeting with the Maharashtra chief minister, senior Nabard officials said the participation of the commercial banks have been on the upswing while there was a need to strengthen the district co-operative banks who are in a bad way. The plight of the cooperative banks, Nabard officials, said was affecting the loan disbursement.
While the chief minister welcomed the greater allocations, he said there was a need to consider how the farmers who have been out of the credit system for defaulting their loan payments can be made creditworthy again.
The chief minister urged the banks to try to cover more number of farmers, to widen their net.
