Financial Daily from THE HINDU group of publications
Thursday, Jun 30, 2005
Financial Daily from THE HINDU group of publications Thursday, Jun 30, 2005 |
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Agri-Biz & Commodities
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Co-operatives Kerala co-op bank plans to disburse Rs 500 cr this year Our Bureau
Thiruvananthapuram , June 29 THE Kerala State Co-operative Agricultural and Rural Development Bank (KSCARD) plans to disburse loans to the extent of Rs 500 crore in the current year. The bank is laying special emphasis on disbursement of loans for agricultural purposes in line with the Centre's programme of doubling loan assistance to the sector. Accordingly, it has earmarked Rs 190 crore out of the total disbursement target for the agricultural sector. Of the remaining amount, Rs 160 crore will be given to the rural industrial sector and Rs 150 crore for rural housing purposes, said Mr K. Sivadasan Nair, President, on Wednesday. In 2004-05, the bank had disbursed Rs 333 crore as loans, which was 24 per cent more than the disbursements in the previous year. The amount included Rs 117 crore for investments in the farm sector and Rs 75 crore for non-agricultural purposes. Besides, Rs 140 crore was given towards housing loans. Mr Nair said that in 2003-04, the bank had made a profit of Rs 11.26 crore, which represented an increase of nine per cent over the previous year. At the AGM, the bank decided to pay 10.75 per cent dividend to member-banks, comprising 46 primary agricultural and rural development banks in the State. Under the bank's short-term loan scheme for small traders, an amount of Rs 46 crore will be disbursed in the current year. The scheme envisages making available working capital loan of up to Rs 2 lakh to a trader on mutual guarantee with another trader. Mr Nair said that the bank has been extending loans to the children of farmers for pursuing professional education.
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