The State Government has decided to provide a total of Rs6,000 crore to 20.50 lakh farmers during the current Kharif season.
Cooperation Minister Damodar Rout informed this in the State Assembly in response to a question of BJP MlA Dilip Ray on Wednesday.
The farmers are provided crop loans through 17 Central Cooperative Banks across the 30 districts. While the loans are commonly provided at five per cent interest per annum, the Government provides three per cent interest concession to the farmers who repay loans within stipulated period.
According to a recent notification, crop loans up to Rs50,000 would be provided to farmers at four per cent interest per annum. But they would be charged only one per cent interest rate if they repay loan in time, the Minister said.