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| Agriculture credit offtake nosedives |
| BS Reporter / Kolkata Sep 18, 2009, 00:10 IST |
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A drought-like situation is taking its toll on agriculture credit offtake.
According to data released by the West Bengal State Co-operative Bank (WBSCB), between April and August this year, the total kharif loan disbursed was Rs 350 crore, against a target of Rs 600 crore.
The shortfall was on account of late monsoons and drought-like situation, apart from the devastation due to the Aila storm, which hit the state few months back, according to a press release by the bank.
Overall there was a dip in credit disbursement to the agriculture sector due to the large number of defaulters after the government's debt waiver and debt relief scheme.
The state issued short term crop loans worth Rs 841 crore, against a target of Rs 1,450 crore during 2008-09, which was Rs 947 crores during 2007-08. The total agricultural loan issued during 2008-09 was about Rs 1,017 crore.
On the deposits side, the central cooperative banks, along with the state cooperative banks, through more than 300 branches mobilised deposits of about Rs 8732 crore, as on June 2009. Besides, 2,140 primary agricultural cooperative societies mobilised Rs 1,722 crore.
The cooperative structure aims to disburse crop loans of about Rs 1,500 crore, issue fresh Kisan Credit Cards of 3,50,000, total agricultural loan of Rs 1,800 crore, total schematic loans of Rs 944 crore and enhance credit to the self help groups.
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