Banks to extend credit for Rabi crops

The banks operating in Orissa will extend credit for the coming rabi crops on a priority basis. Since the standing crops were damaged by the recent floods in 19 districts, the banks have agreed to provide credit to the farmers for cultivation of groundnut, oil seeds, pulses, vegetables during rabi season.

This was decided in the recent meeting of the special steering committee of the State Level Bankers’ Committee (SLBC) chaired by the regional director of the Reserve Bank of India (RBI), official sources said.

The farmers and the entrepreneurs engaged in the fisheries will also be extended short term credit during 2008-09.The proposals for the short term credit pending with different banks will be sanctioned and money disbursed for increasing the fish production in the state.

 

The banks operating in the flood affected areas should not collect charges for the cheques issued by government towards relief measures. Similarly, no penalties are to be charged for pre-mature closure of term deposit accounts held by the flood affected persons.