Rs 220 crore subsidy on co-op loans availed

Over Rs 220 crore interest subsidy on co-operative farm loans was availed of by the farmers during the last one year, according to TD Janardhan Rao, the chairman of Andhra Pradesh Cooperative Bank limited(APCOB).

Addressing a press conference here on Monday, he said that of the Rs 497 crore interest subsidy announced by the state government last year to 39.90 lakh eligible farmers, only 20.55 lakh farmers had so far availed of the relief by paying their dues.

Janardhan Rao appealed to those farmers who were yet to avail of last year's interest subsidy and those who comes under this year's interest subsidy to avail of the same by paying their dues by March this year. The total relief available to farmers in the form of interest subsidy is Rs 407 crore, he said.

The successive governments in the last ten years have provided Rs 538 crore relief to farmers by way of interest subsidy, he informed. Over Rs 1,300 crore arrears with installment payments due for one year and above are to be collected, he said.