Punjab extends repayment of Kharif crop loans by Mar 31
To pass the benefits of interest subsidy on crop loans to farmers during the current Rabi season, Punjab Cooperation Department has advised its member tillers to deposit their recovery payments by March 31 on such loans taken during Kharif 2017.
The offer was made by the state Additional Chief Secretary (Cooperation) DP Reddy during a state level review meeting of the Department on Wednesday.
Reddy informed the members of primary co-operative agriculture societies in State must avail benefits to get interest subsidy of three per cent by paying their pending crop loans pertaining to Kharif and can receive crop loans for current Rabi season besides deposits of debt relief amounts in their accounts.
He asked field officials of Cooperative Department and Bank employees to aware members of all co-op societies that debt relief announced by the State Government would not be affected due to recovery of their debt because basis of debt relief scheme was amount standing in their account by March 31, 2017.
“All the official should reach to the farmers and motivate them to keep and clear their transactions with the societies. Concerned officials should also inspire the tillers to become eligible beneficiaries for getting the benefit of subsidies on interest by paying crop loans timely,” he stressed.
State Co-operative Societies’ Registrar Arvinder Singh Bains informed the State Government has extended loan recovery period for repayment of crop loans taken for Kharif in 2017 by March 31.
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