Bihar to Provide Interest-Free Loans to Farmers

The Bihar government on Tuesday announced that state cooperative banks would soon provide interest-free, short-term agriculture loans to farmers. The initiative aims to meet the financial requirements of farmers for agricultural and allied activities, including post-harvest expenses.

Strengthening Primary Agricultural Credit Societies

Dipak Kumar Singh, Additional Chief Secretary (ACS), Bihar Cooperative Department, stated that the state government is committed to the welfare of stakeholders associated with the cooperative sector, including farmers. The department is working towards providing interest-free, short-term agriculture loans to farmers who possess Kisan Credit Cards (KCC).

To strengthen the Primary Agricultural Credit Societies (PACS), the state government has decided to develop them as Common Service Centres (CSCs). These CSCs will offer 300 common services to people in rural areas. The development of 1,000 PACS as CSCs has already commenced.

Government Initiatives for Cooperatives and Farmers

Speaking at an event to mark the 70th All India Cooperative Week 2023, Bihar Cooperative Department Minister Surendra Yadav highlighted the steps taken by the 'Mahagathbandhan' government for cooperatives and farmers. He acknowledged the significant role played by small and marginal farmers in the state's overall development and announced that several incentives would soon be introduced for their benefit.

Yadav commended the cooperative banks for their consistent profitability and successful implementation of procurement and other cooperative schemes.

The Bihar government's initiative to provide interest-free loans to farmers is a significant step towards supporting agricultural activities and alleviating the financial burden on farmers. The development of PACS as CSCs will further enhance the delivery of essential services to people in rural areas. These efforts demonstrate the government's commitment to empowering farmers and fostering the growth of the cooperative sector in the state.