Balaram Yojana Odisha 2020 – Loan for Landless farmer

Balaram Yojana Odisha 2020 – Loan for Landless farmer | ‘Balaram Yojana’ to supply crop loans to landless farmers. Under the new scheme the landless cultivators will get loans through joint liability groups (JLGs)

Balaram Yojana

The scheme was announced during a meeting headed by the State cabinet minister, Asit Kumar Tripathy. Under ‘Balaram’ scheme.

The govt has set a target to produce farm loans to 7 lakh landless farmers in next two years. it’s put aside Rs 1,040 crore for the aim. Balaram Yojana Odisha 2020 – Loan for Landless farmer

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The implementation model of the scheme was deliberated within the meeting, and, it absolutely was decided that IMAGE and Agricultural Technology Management Agencies (ATMA) would be the nodal agencies at the State and District levels respectively. it had been further decided to incentivize the Krushak Sathis and VAWs through ATMA for formation of JLGs, linking them to the banks, mobilizing disbursal of credit and facilitating repayment of the loan.

Each bank would finance a minimum of 10 JLGs during a year. There are around 7000 branches of various banks and PACS in rural and semi-urban areas. Each JLG would have five members. Each group may well be extended the loan up to Rs.1.60 lakh. it absolutely was targeted to hide around seven lakh landless cultivators through 1.40 lakh JLGs within a period of two years. The credit would be available as normal crop loan. the speed of interest and interest subvention would be as per the present norms of state of Odisha.

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