Chief Minister to launch disbursement of farm loans in Kalaburagi tomorrow

Chairman of Kalaburagi-Yadgir DCC Bank and Sedam MLA Rajkumar Patil Telkur has said that Chief Minister B.S. Yediyurappa will launch disbursement of farm loans worth ₹50 crore at a programme in Kalaburagi on Saturday.

“Nearly 10,000 farmers associated with 50 Primary Agricultural Credit Societies that fall under Kalaburagi-Yadgir DCC Bank will get the loan benefit. We have set a target of disbursing farm loans worth ₹200 crore among two lakh farmers in the two districts served by the bank. A sum of ₹200 crore borrowed from Apex Bank will be utilised for lending new farmers. After we get ₹450 crore from NABARD, we will start lending farmers who have availed of farm loan waiver benefits. By March-end next year, the total lending amount is expected to cross ₹1,000 crore,” Mr. Telkur told mediapersons at a press conference at Aiwan-e-Shahi Guest House here on Thursday.

Admitting to the fact that the DCC Bank had not disbursed farm loans in the last two years, Mr. Telkur said that he had mobilised ₹10 crore worth shares from the government and deposits worth ₹80 crore after he assumed office as the chairman of the bank a few months ago.

“After I assumed power as the chairman of the bank, the recovery of loans has gathered momentum. Of ₹250 crore loans, ₹150 crore loans have been recovered. The bank’s ranking has jumped from 21st position to 11th position after I became the chairman. We have set a target of bagging one of the first three positions by the end of March 2022,” Mr. Telkur said, attributing the success to the cooperation extended by Chief Minister B.S. Yediyurappa and Co-Operation Minister S.T. Somashekhar.

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