Small and marginal farmers now get easy loans

By: Merikheti
Published on: 30-Jan-2024

Small farmers in India will now have easier access to financing. Let us inform you that the Modi administration will shortly introduce a new programme through which small and marginal farmers linked with ARDB would benefit from loans and related services. The national government will shortly introduce a new strategy for the country's small farmers. Actually, Union Cooperative Minister Amit Shah is about to initiate a computerization initiative for Agricultural and Rural Development Banks and the Registrar of Cooperative Societies.


According to the official release, Amit Shah will oversee the computerization of ARDB and RCS throughout the states and union territories. The programme is being organised by the Ministry of Cooperation with the assistance of the National Cooperative Development Corporation (NCDC). The Ministry has made a crucial step by computerising the offices of Agriculture and Rural Development Banks (ARDBs) and Registrars of Cooperative Societies (RCSs) in states and union territories.


Organised by Ministry of Cooperation with the help of NCDC

The Ministry of Cooperation is organising this programme in partnership with the National Cooperative Development Corporation (NCDC). The project would completely computerise the offices of Agriculture and Rural Development Banks (ARDBs) and Registrars of Cooperative Societies (RCSs) in States/Union Territories, which is a key step made by the Ministry of Cooperation. According to the statement, this initiative would modernise the cooperative sector while increasing efficiency, where the entire cooperative system will be placed onto a single digital platform.


Also to read: farmers to get benefits of government schemes through cooperative societies


ARDB to continue computerising 1851 units

According to the announcement, 1,851 ARDB units throughout 13 states and territories would be computerised. These will be linked to the National Bank for Agriculture and Rural Development (NABARD). This means that regularly used software will be based on a single national software. This programme will improve operational efficiency, accountability, and transparency at ARDB by standardising business processes using the Common Accounting System (CAS) and Management Information System (MIS). The strategy will let small and marginal farmers to benefit from ARDB acreage and related services via Primary Agricultural Credit Societies (PACS).