Bhubaneswar: Agriculture and Farmers’ Empowerment Minster Arun Sahoo on Wednesday stressed on increasing the financial credit of commercial banks to agriculture sector in the state.
Speaking at a meeting with bankers on credit linkage, Sahoo said as per Reserve Bank of India (RBI) guidelines, the banks should extend 18% of their credit potential to farm sector. The banks in other states like Andhra Pradesh, Tamil Nadu, Kerala and Punjab have been meeting the RBI norms, he added.
Stating that the Odisha government has been providing 3% subsidy on farm loans to help the farmers increase their income, Sahoo said the bankers should set a new benchmark in this regard.
Calling for increasing credit linkage to farm entrepreneurs, the minister said the government has increased the number of approved projects in the sector from 62 to 92. Out of Rs 40 crore fund of the agriculture entrepreneurship plan, already Rs 30 crore has been utilised this year, he added.
The minister set a target of Rs 200 crore credit to 500 farm entrepreneurship projects for the bankers for 2021-22 financial year. While 324 projects are meant for commercial banks, 68 are for private banks, 66 for cooperative banks and 42 for rural banks, he added.
Bargarh: A new artist will be selected to play the mythological character King Kansa during…
Mumbai: Suhana Khan will be making her Bollywood debut with ‘King’ along with her superstar…
New Delhi: After Diljit Dosanjh called out the double standards of Telangana government for banning…
New Delhi: Recent actions and counter-actions in the Russia-Ukraine conflict have pushed the world to the…
Balangir: Three persons were arrested and fake IPS officers’ uniforms along with fake identity cards…
Mumbai: Abhishek Bachchan’s highly-anticipated film ‘I Want To Talk’ released in theatres on Friday, and the…
New Delhi: Accused of giving cash to secure votes ahead of election day in Maharashtra,…
Bhubaneswar: Chief Minister Mohan Charan Majhi attended the ‘Odisha State Day Celebrations’ at the 43rd…