Uttar Pradesh government to aid farmer producer organisations to get loans upto Rs 5 lakh from banks

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In a financial push to the agricultural sector, the on Monday decided to help farmer producer organisations (FPOs) in getting loans from banks besides provisioning aid in payable interest. Issuing a government order, additional chief secretary (Agriculture-notes-for-state-psc-exams”>Agriculture) Devesh Chaturvedi said that FPOs have the provision of getting WORKING CAPITAL

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under the Centres directions. He said FPOs face financial crunch because of the shortage of share capital and less number of members. This results in problems pertaining to purchase of raw material and other requisite equipment.

Chaturvedi said that at present, commercial, cooperative, schedule and regional banks are providing loans to FPOs at the rate of 9-11% to carry out commercial activities.