The disbursement of crop loans in the cooperative sector in Orissa has touched a record high of Rs 1407.12 crore during the kharif season of 2009 which ended on September 30 this year.
This is a surge of 157.52 per cent over Rs 546.41 crore of cooperative loans disbursed in the kharif season of 2008. The disbursement figures stood at Rs 899.23 crore in 2007, Rs Rs 837.47 crore in 2006 and Rs 764.35 crore in 2005. The cooperative crop loan, however, fell short of the target of Rs 1530 crore.
The state government has set a target of Rs 1000 crore for the Rabi season of 2009-10. The high growth in cooperative crop loan disbursals was attributed to the lowering of interest rate by the government to 5 percent and the sincere efforts put in by the staff of the District Cooperative Central Banks (DCCBs).