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Today Date : Monday, April 15, 2024

EDCCB plans to disburse Rs1100 cr Crop Loan

EDCCB plans to disburse Rs1100 cr Crop Loan

Erode District Central Cooperative Bank (EDCCB) has planned  to give Rs 1100 crore crop Loan this financial year said the bank chairman N Krishna Raj and director R Manoharan. Inaugurating a one day special camp to disburse loan applications to differently abled persons at the bank branch at Priyar Street Erode on Thursday, they said the bank disbursed Rs 1000 crore crop loan last year. 

This year the bank planned to give Rs 100 crore as milch  animal purchase loan to farmers and Rs 3.65 crore loan to differently abled persons. So, the special camp was held in all 28 Central Bank branches, 166 primary agriculture cooperative banks, 5 urban cooperative banks today. 

Diffables can submit the applications round the year and get Rs 50000 loan by producing personal security and up to Rs 20 lakh by pledging assets.  If the repayment is prompt the government will bear the interest for the loan. Otherwise 5-6% interest will be collected. The bank's deposit touched Rs 2600 crore, landing Rs 4000 crore and the NPA was 1% only Under the special Jayamahal recurring deposit scheme 11 000 women joined the scheme. 

This year the bank planned to give Rs5000 to 25000 loan to destitute women and windows. The bank is in the category of Grade A and in the second rank among all central banks in the state in the context of highest turnover. The bank disbursed Rs 80 crore loan to women SHG last  year.
It has opened its 36th branch at Chithodu ecently and planned to open ATMs at Sivagiri and Uthukuli in addition to existing 5 ATMs. 

The old age pension was  being given by the government through Nationalised Banks.  As the aged people faced  some problems nearly 2 years back a pilot  project of disbursing the pension through Central Bank was started at Bargur and Bhavani town where the pension was being given through ration hops in nearby area of the pensioners. 

The success report of the scheme was sent to the government for extending it all over the state they said. Erode East MLA Thirumagan Evara and Mayor Nagarathinam attended the function.