Bihar farmers to get crop loans at lower rate

Last Updated: Thursday, June 17, 2010 - 21:41

Patna: Farmers in Bihar would now get crop
loans at an interest rate of four per cent, three per cent
less than what they paid, Deputy Chief Minister-cum-Finance
Minister S K Modi said today.

The lower rate would come into effect from April 1, 2010,
he said adding a resolution to this effect was adopted
unanimously at a meeting of the state-level banker`s
committee.

Referring to the Annual Credit Plan (ACP), Modi said in
951 out of 4173 branches of commerial banks in Bihar the ACP
ranged from 50 per cent to 75 per cent. In 309 bank branches
the ACP was between 25 per cent and 50 per cent, while 88
branches had ACP of less than 25 per cent.

In 2005-06 when Nitish Kumar came to power in Bihar, the
banks had ACP of Rs 6,055.42 crore which rose 17536.89 crore
in 2009-10. The ACP would witness a `whopping growth` to the
tune of Rs 37000 crore during the current fiscal, he said.

Modi said education loans in the state had risen by 22.03
per cent 2009-10 compared to the corresponding period the
previous year and altogether 23,616 students had availed
education loans during 2009-10.

PTI



First Published: Thursday, June 17, 2010 - 21:41

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