New Delhi, Dec 3 (IANS) Public sector banks provided Rs.86,000 crore concessional loans to farmers during the first five months of the current fiscal, Minister of State for Agriculture K.V. Thomas said Friday.
‘The total loan amount disbursed to farmers during April-August period by the public sector commercial banks is Rs.86,284.70 crore. It has benefited 77.68 lakh farmers for meeting their credit requirements for agricultural operation purposes,’ Thomas said in written reply to a question in the Rajya Sabha.
Thomas said the loan was heavily subsidised by the government and the effective rate of interest charged currently was 5 percent.
He said, however, there was no proposal to bring down the rate of interest further.
