EDB Kissan Loan Mela held
Excelsior Correspondent
SRINAGAR, May 26: In a bid to reach out to small farmers with bank credit facilities at their doorsteps, the Ellaquai Dehati Bank (EDB) today organized a massive Kissan Loan Mela at Zaloowa Bogam village in Tehsil Chadoora, a biggest vegetable producing area in Kashmir, also known as Chotta Punjab.
The initiative is first of its kind to encourage and boost vegetable growers in an organized cluster by providing hassle free credit facility to the farmers and to make vegetable cultivation a commercially viable business activity.
The Minister for Finance and Ladakh Affairs, Abdul Rahim Rather was the chief guest on the occasion.
Mr. Rather, besides distributing Kissan Credit Cards among about 500 vegetable growers of the area also launched a new Deposit-cum-Loan Product ‘EDB Kissan Dost’ for the small farmers under which the common man can open/maintain bank account at “no cost” and can also avail an overdraft facility up to a maximum amount of Rs 10,000 without any mortgage. Mr. Rather also distributed credit cheques sanctioned by the bank in favour of students and self-help groups of the area.
Speaking on the occasion, the Minister urged the need for providing hassle free credit facilities to the farmers to give boost to the rural economy. He asked the banks to improve their Credit Deposit Ratio (CDR) towards agriculture sector, which he said was the backbone of the state’s economy. He said dream of a prosperous and self-reliant J&K lies in financially vibrant rural economy.
Explaining objective of the Kissan Loan Mela, Mr. Rather said “it was a sequel to the measures to take the administration at the doorsteps of the people to redress their grievances as per their urges and expectations”. He said all the banks have been instructed to improve their CDR towards agriculture so that educated unemployed youth could be provided dignified job avenues available in abundance in the sector. He also referred to SKEWPY and Seed Capital Fund Scheme and asked the youth to avail benefits of these novel employment schemes launched by the present Government.
The Chairman EDB AK Razdan while giving a resume of the Bank said that it provides credit facilities to the people at meager 7 percent interest through its 124 Business units spread across 13 districts of the state. He said the dank is fully computerized with all modern transaction facilities including e-banking.
Regarding achievements in the field of Financial Inclusion Scheme, Mr. Razdan said that the bank has accomplished the assigned target of 35 village in this regard where-under 24000 Bank Accounts have been opened with a credit of Rs 16 crore. He said business correspondence has been started in the areas where there is no banking facility.
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