Haryana Cooperation Minister Bikram Singh Yadav on Tuesday directed all Chief Executive Officers of banks to make every possible effort to increase the loan recovery to avoid financial crisis and offer maximum loan facilities to farmers.
Presiding over a meeting of Haryana State Cooperative Agriculture and Rural Development Bank, Panchkula and Chief Executive Officers of Primary Cooperative Agricultural and Rural Development Banks of all the districts, the minister expressed concern over weak financial position of banks due to low loan recovery.
He directed the CEOs of the banks to publicise schemes of Government like one time settlement of 50 per cent of interest and scheme of waiving off 50 per cent interest of those farmers who are paying their installments on time. This would help in increasing the loan recovery of banks. These schemes are valid up till December 31, 2014. He said banks would take strict action against those who would not pay back their loans on time.