District administration approves agriculture credit plan of Rs 10,947 crore

In this credit plan, authorities have also mentioned the loans for agriculture mechanisation.
Representational Image
Representational Image

ONGOLE: District administration has approved the annual agriculture credit plan of Rs 10,947 crore and allocated Rs 5,081 crore for agri-loans to farmers in the Kharif season and Rs 5,141 crore for the same purpose in the Rabi season.

District bankers have achieved around 99.20 per cent loan allocations against target set for Kharif season.

In this credit plan, authorities have also mentioned the loans for agriculture mechanisation.

Against the stipulated Rs 5,141 crore crop loans target set during Rabi season, the district bankers have, till the end of November, provided Rs 2,907 crore loans to the farmers.

“Due to surplus rainfall, we have provided the agriculture loan in big numbers through 29 cooperative bank branches, 176 agriculture cooperative and credit societies of the district,” lead district bank officer (LDBO) NS Rao said.

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