Farmers demand increase in loan amount | News from Trichy
Out of the total crop loan requirements of all farmers in Tamil Nadu, the Primary Agricultural Credit Cooperative Societies currently provide interest free loans only at around 20-22%. The government should secure the necessary funds from NABARD to increase the amount of loan to be given through the cooperative societies up to 50%, said Swamimalai S Vimalnathan, secretary of the Tamil Nadu Cauvery Farmers Protection Association in representation.
When indicating the amount of loans granted through the cooperative societies, the farmers alleged that the authorities gave preference to jewelry loans, which should not be the case. The ratio of crop loan to jewelry loan should be 80:20. The limit for unsecured loans should be increased from 3 lakh to 5 lakh, Vimalnathan said.
To maintain transparency in loan disbursement and remittances, details should be uploaded to the department’s website. The list of beneficiaries who have availed the crop loans and full details of those who have been granted loan waivers should be uploaded and permanently maintained on the website, Vimalnathan added.