Financial Services

SAO:The society is providing seasonal agriculture crop loans for kharif and Rabhi seasons every year.

At present the society is advancing crop loan of Rs. 24,000/- per acre. Up to 10 acres limit i.e Rs. 2,40,000/-@ 7% interest per annum. During the year 2015-16 the society has disbursed crop loans of Rs. 39.44 crores for Kharif and Rs. 36.62 crores for Rabi season.

The state and central Govt. is providing Zero interest scheme to farmers who repay their crop loan in time. State Govt. is Providing 4% and central Govt. 3% interest subvention there by total interest free crop loan up to 1 Lakh. Crop loan above 1 Lakh and up to 3 Lakhs state Govt. is providing 1% and central Govt. is providing 3% subvention.

Crop Loans Raising Paddy

Normal Loans

The society is providing additional seasonal loans for the development,children education,hospitalization and marriages etc.

During the year 2015-16 the society has disbursed normal loans of Rs.48.06 crores.

Crop Loans Raising Paddy

Medium term loan (Repayment in three years)

The society is providing medium term loans viz. Agriculture implements, Minor irrigation purposes digging of wells, electric motors, pipe line, Drip irrigation, sprinklers. Agri. Machineries like Maize Sheller, Rotovator, tractor trailers. Agri. allied activities such as Dairy, Sheep rearing, Horticulture crops & Sericulture and also for Welfare activities such as Toilets, Solar lanterns, LPG gas.

During the year 2015-16 the society has disbursed MT loans worth of Rs. 7.95 crores.

Long term loan (Repayment in seven years)

These loans are given for Tractors, Harvesters, Paddy plantation machine, Citrus and mango garden with gestation period of 5 years.

During the year 2015-16 the society has disbursed LT loans of Rs. 1.27 crores.


Members selling the paddy / paddy seed / Cotton towards Repayment of Loan

Recovery of Loans

Most of the members of the society have habituated to repay their dues in time voluntarily by selling their produce to the society.

By linking of credit with marketing, recovery percentage of loans is more than 90% every year. Last year i.e 2015-16 it is 94.02%.

Own funds generation:

A member should contribute at least 20% of crop loan amount as share capital up to ceiling of rupees 50,000. On all Crop / Term loan 5% is deducted and credited to members share / thrift deposit account. 15% dividend on share amount is being paid every year.

Society is also accepting savings and fixed deposits from members. The interest rate for deposit amounts is slightly more than the commercial banks.

The society is having share capital of Rs. 13.96 crores and compulsory thrift deposits of Rs. 49.30 crores from the members up to 31' March 2016.