While quoting the statement of the UP Cooperative Department a media report says nearly 18 lakh farmers have taken short-term loans worth Rs 7,085 crore in the 2020-21 FY from cooperative banks of the state.
In 2019-20, about 17 lakh farmers had taken short-term loans worth Rs 6,150 crore from the cooperative banks.
According to the officials of the cooperative department, cooperative banks and the state government have saved farmers as well as villagers from the clutches of traditional moneylenders.
There are 50 district central cooperative banks with a network of 1260 branches and 7479 PACs in Uttar Pradesh.