Coop Banks to reschedule the crop loan to farmers
Erode: Crop loans availed by farmers from district central cooperative banks would be rescheduled as per the government's decision in view of severe drought conditions prevailing in the state, a bank official said Monday.
"The Erode District, Central Cooperative Bank provided Rs 226 crore as crop loan during 2012. Already, farmers had repaid Rs 23 crore. The remaining amount would be rescheduled and the farmers may repay the same within three years," bank's Managing Director Hema told reporters here.
Regarding jewel loan, she said during the last year Rs 306 crore has been advanced under the head. The repayment of jewel loan was very satisfactory, she said.
The bank has 28 branches in Erode district and the overall repayment of all loans was 97 percent.
She said two more branches of the bank would be opened at Solar and Surampatty. It had decided to start four ATM centres.
The computerisation works in all banks were completed and making arrangement to link all branches and to be made as core banking system soon.
The bank expected a profit of Rs 15 crore in 2012-13, she said.