Manoj Kumar, Patna. Agriculture and Rural Development Bank (ARDB) will open in Bihar. Farmers will get medium and long term loans from this bank. This bank will be operated by the Cooperative Department. At present only KCC loans are being provided to the farmers by cooperative banks. With the opening of this bank, farmers will also get medium and long term loans.
This bank has 1851 branches across the country.
Agriculture and Rural Development Bank is currently established only in 13 states and union territories of the country. This bank has 1851 branches across the country. One crore 20 lakh farmers are associated with it. Officials of the Central Cooperative Department said that its proposal has been sent to the state. The name of the district and resources will be sent to the Central Cooperative Department for opening a bank on behalf of the state. Banks will be opened after the approval of the Central Cooperative Department.
Capital will be available for modern farming
This bank will be established for the purpose that farmers should turn to modern farming. At present, farmers are able to do traditional farming only with the short-term loans received through KCC. In the era of climate change, productivity is being affected due to not practicing modern farming. Capital will be provided to the farmers through this bank to increase the productivity of crops and to turn the farmers towards modern farming.
Banks will be linked to NABARD link
Agriculture and Rural Development Banks and State Cooperative Rural Development Banks will be linked to NABARD National Software. With this, linkage of all types of agricultural loans will be available. Through this, information about all types of loans will be available to farmers. It is being said that small and medium farmers of Bihar face a lot of difficulty in getting bank loans, in such a situation small and marginal farmers can get huge capital from the cooperative bank.