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Our Bureau

Kolkata, March 1 At 56 per cent, the recovery in agricultural lending by co-operative credit institutions has been the highest in West Bengal, according to Mr P. Mohanaih, Chief General Manager, Nabard.

The figure is much lower in other States.

In West Bengal, the total agricultural lending by co-operative credit institutions in 2007-08 amounted to Rs 947 crore, about 44 per cent of which remained as defaults, according to Mr Samir Ghosh, Chairman, West Bengal State Co-operative Bank Ltd (WBSCB).

Reviewing the performance of State’s co-operative credit institutions at a meeting at Diamond Harbour on Saturday, Mr Ghosh pointed out that the recovery climate had been adversely affected by the announcement of debt waiver and debt relief scheme.

“Recovery of loans advanced by co-operative credit institutions in Maharashtra, Karnataka and Andhra Pradesh stands at 12 per cent, 22 per cent and less than 20 per cent respectively, while our rate is quite high and we are hopeful of stepping it up further to 60 per cent by March 31, 2009,” he said.

There has been a general decline in agricultural lending, particularly in the crop loan segment, Mr Ghosh said.

Co-operative banks have been able to disburse only Rs 790 crore as on December 31, 2008 under the agriculture and allied sector, as against the total target of Rs 1,721 crore for 2008-09.

Close to 1.64 lakh self-help groups have been formed by the primary agricultural credit societies, district central co-operative banks and WBSCB till December 31, 2008, of which 1.07 lakh have been credit-linked, he said.

“So far, the SHG members have mobilised deposits to the tune of Rs 111 crore and received credit amounting to Rs 268 crore of which Rs 57 crore have been disbursed during the current year,” Mr Ghosh said.

More Stories on : Co-operatives | Farm credit | West Bengal

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