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Agriculture Loan : Odisha government to ensure 100% crop insurance

Odisha government asked all banks to ensure 100% insurance of the crops to the farmers who losses their crops due to natural calamities. Deficient rainfall during kharif has severely affected agricultural production in 139 blocks of 21 districts.

At the State Level Bankers Committee (SLBC) meeting, chief secretary G C Pati asked all banks to re-phase kharif loans in view of the drought situation in the state. To prevent farmers from borrowing from loan privately, the state government asked the banks to make available sufficient finance to for the rabi crop.

According to the state government's instruction, the banks have agreed not to recover kharif loans from the farmers in the near future. Agriculture specialists working for banks will advise farmers to go in for non-paddy cultivation to overcome from crop losses occurred during the kharif season.

Chief Secretary G C Pati said that as farmers are likely to face scarcity of cattle fodder, particularly in drought-affected areas, banks will also finance fodder cultivation this season. Finance secretary R Balakrishnan focused on extending banking services to all villages in the state.