Cooperative banks in Punjab asked to speed up loans

Punjab's Additional Chief Secretary, Cooperation, D P Reddy, today directed officials and district managers of the central cooperative banks to speed up the process of advancing crop loans to the members of cooperative societies for sowing of kharif crops.

Reddy was reviewing the functioning of the regional officers of the cooperative banks and district managers of the cetral cooperative banks here, an official spokesman said.

During the course of the meeting, regional officers apprised Reddy that out of the approximately 3,00 agricultural cooperative societies of the state, the maximum credit limit (MCL) pertaining to 2,618 societies have been prepared while the process of preparing the MCL concerning the rest would be completed by May 28, 2018.

The MCL with regard to more than 7 lakh farmers has been prepared, Reddy was informed.

The members of 639 societies have already been advanced the crop loans, the spokesman said.

The regional officers also brought to the attention of the additional chief secretary that MCL of 80 per cent of the societies has been prepared.

In Shaheed Bhagat Singh Nagar, Moga, Bathinda, Mansa and Amritsar districts MCL work of 100 per cent societies has been completed.

Reddy instructed the regional officers that work regarding the MCL preparation of rest of the agricultural cooperative societies be completed by May 28, 2018.

He also assured that the cooperative societies are always engaged in working for the welfare of the farming community.

He also reviewed the debt relief being granted to the marginal farmers, the spokesman said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)