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Banks asked to broaden their loan portfolio to benefit farmers
The Punjab government seeks to provide financial benefits to the poor farmers in the state and consequently has directed its district central cooperative banks to broaden their loan portfolio to provide maximum benefits to the farmers.

This step was undertaken during a review of the annual performance analysis of various state cooperative banks. It was directed that the business of the banks should not be curtailed and various kinds of loaning services must be provided to the needy farmers in a transparent manner.

Many problems are being faced by the poor farmers and the role of cooperative banks cannot be undermined in helping the farmers by providing them soft loans at reasonable interest rates. Banks were also advised to counsel the distressed farmers against taking extreme steps like suicides. It was stated that banks should hold meetings and workshops at the village levels and invite expert speakers to counsel farmers on this subject. Farmers were to also be counseled against taking loans from unorganized money lenders as this forces them to take extreme steps upon non-repayment.

At this annual meet, managing directors and district managers presented performance analysis of their respective banks for the year 2016-17.
Posted on: 2017-05-25 12:36:56





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