Bhubaneswar: Chief Minister Naveen Patnaik on Saturday announced the reduction of share linkage of cooperative societies for farmers to avail agricultural term loans from the existing 10 percent to nominal fixed rates.
The share linkage of cooperative societies will now be as follows:
The state government has decided that instead of collateral, the asset created or acquired by the term loan may be secured by charge created and hypothecation of the assets.
The cooperative banks have been playing a pivotal role in dispensation of crop loans in the state. The share of cooperative sector is over 65 percent at the national level. The decision regarding reduction of the share linkage of cooperative societies was taken with a view to improve the share of cooperative banks in providing agricultural term loans.
Bhubaneswar: Former Odisha MLA Radharani Panda joined the ruling Biju Janata Dal (BJD) after quitting…
Keonjhar: At least five people were killed in a road mishap involving multiple vehicles in…
London: There was a daring assassination attempt on Slovakia’s populist Prime Minister Robert Fico in…
Bhubaneswar: A war of words erupted between Bharatiya Janata Party and Biju Janata Dal (BJD)…
Bhubaneswar: Why did BJP cancel its president J P Nadda and Union Home Minister Amit…
New Delhi: There’s good news for a country which has endured scorching temperatures in April…
Bhubaneswar: The Kalinga Stadium waited with bated breath for the final day of the Federation Cup…
Bhubaneswar: Bharatiya Janata Party’s (BJP) national president J P Nadda arrived in Bhubaneswar on a…