In a concerning trend, banks in various districts are turning their backs on the agricultural community, particularly dairy and fish farmers, despite government directives to extend financial support. The Central and State governments have been vocal about promoting economic sectors like dairy farming, yet banks seem reluctant to lend a helping hand.
Despite the issuance of circulars by the Centre urging extensive lending for the financial year 2023-24, banks are failing to meet the expectations of farmers. Applications for loans to procure dairy cattle and venture into fish farming are being rejected in mass, causing distress among the agricultural populace.
A staggering number of applications have poured in, with 11,161 dairy farmers and 6,968 fish farmers seeking financial aid across various districts. However, the approval rates paint a grim picture, with only 3,782 dairy farmers and 3,641 fish farmers receiving loans so far. This stark contrast between demand and approval highlights the severity of the issue.
In districts like Warangal, Nagarkurnool, and Nizamabad, where the majority of applications originate, farmers face significant hurdles in accessing credit facilities. Even under the Kisan Credit Card scheme, designed to facilitate agricultural loans, many find themselves without the necessary support.
The sluggish pace of loan disbursement exacerbates the situation, with only around 1000 dairy farmers and 1500 fish farmers having received loans to date. This delay adds to the financial strain already burdening these farmers.
The government’s concern over banks’ reluctance to extend loans to dairy and fish farmers is palpable, especially considering the absence of loan waiver schemes. It’s imperative for banks to align with governmental objectives and actively support the agricultural community in their endeavours for economic growth. Failure to do so not only hampers individual farmers’ progress but also impedes the nation’s agricultural sector’s development.
