Loan at zero per cent interest rate to farmers in this village of Gujarat
April 08, 2016
Rajkot
Cooperative group of Samadhiyala village in Mendarda taluka of Gir Somnath district in Saurashtra region of Gujarat has announced loan to farmers at zero percent rate.
50-year old cooperative with over 700 members took this decision as its fund has crossed Rs 1 crore mark.
The cooperative body lends around Rs 3 crore amount to farmers in monsoon(Kharif) season on an average every year.
Sharing more details on this, former parliamentary secretary L.T.Rajani and president of cooperative Kanjibhai Pipalia said that three villages Samdhiyala, Mendarda, Najapur and Amargadh are part of Samadhiyala cooperative. Farmers will be given short term loan upto Rs 3 lakh for zero percent interest. If farmers repay loan before 31st March they will not have to pay any interest but just need to return the amount they were given as loan.
– DeshGujarat
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