The banks in Mysore district have aimed at providing Rs 707 crore in crop loans to farmers in the district during 2010-11.
Loans will be disbursed to more than 130,000 small and marginal farmers in the district. The loans will carry a 3 per cent interest rate for those small and marginal farmers who take loan up to Rs 50,000. The Karnataka government has introduced a scheme to provide crop loans at 3 per cent concessional interest to small and marginal farmers in the state, according to Mysore deputy commissioner Harsh Gupta.
However, to be eligible for loan at the concessional rate, farmers should repay their earlier loans within the stipulated repayment dates for the concerned crops.
Loans for the present year will be disbursed by all commercial banks, grameena banks and co-operative banks.