Farmers to reap financial benefits through cooperative societies

Kolkata: In a bid to extend banking services through cooperative societies, the Bengal government is going to set up Customer Service Points (CSP) in 26,031 Gram Panchayats across the state.

While addressing "Rural Connect 2018" annual agriculture conclave organised by the Bengal Chamber of Commerce and Industry at Biswa Bangla Convention Centre, State Cooperation Minister Arup Roy on Monday said the Customer Service Points (CSP) that are going to come up in various Gram Panchayats within next year will provide the facilities of a nationalised bank.

The CSPs will be opened at the premises of the agriculture cooperative societies that provide crop loans.

"The infrastructure will be ready by the next year. One of the main objectives of the initiative is to ensure that people in the villages avail financial benefits from the cooperative societies through the CSPs," Roy said.

Roy mentioned that the Chief Minister Mamata Banerjee had earlier instructed them to open at least 75 financial institutions or bank branches in the rural areas so that they get financial benefits. Earlier, in around 710 Gram Panchayat areas, there was no branch of any nationalised banks causing inconvenience

to the farmers.

"Chief Minister instructed us to set up 75 branches in the initial stage. We have already opened as many as 50 such branches in the rural areas where there was no banking facility. We are hopeful that soon we would be able to cross the figure, the CM had asked for," Roy said.

The minister also said the present state government has increased the amount of loan for the farmers. Last year, the state government had disbursed a total Rs 5,200 crore to the farmers as loan while in the next financial year the department has set a target of providing Rs 8,000 crore to

the farmers.

Earlier the production costs of the farmers were higher as they had to borrow various equipment at higher costs. To reduce the production costs, the state government has set up machinery hub in 2,000 cooperative societies. The farmers can borrow the equipment including harvester and tractor at minimal costs. The department has already allotted Rs 1,000 crore for setting up machinery hubs.

This will help farmers to increase their profit margin, Roy maintained.

To make women associated with various Self-Help Groups financially independent, the state government has provided Rs 180 crore for cattle farming.

Around Rs 1,200 crore has been disbursed among various Self-Help groups as loan this year.

In order to help farmers increase their produce and provide better facilities, around 10.5 lakh Kisan Credit Cards have been distributed among the farmers.