Punjab Coop Banks Offer Loans for Crop Residue Machines

Chandigarh, Oct 6 (PTI) Punjab Chief Minister Bhagwant Mann on Sunday said farmers can now avail loan from the state cooperative banks for buying crop residue management machines.

Mann said the state cooperative banks across the state have launched a crop residue management loan scheme.

The aim is to make rural credit available easily for farmers to purchase machinery for crop residue management in order to check paddy straw burning, he said in a statement here.

The scheme has been introduced in Chandigarh and 802 branches of the district cooperative banks, said Mann and asked the farmers to avail the benefits of this scheme.

The Primary Agriculture Cooperative Societies(PACs) or other entities can avail benefit of 80 per cent subsidy on the purchase of agriculture equipment under the common hiring centre (CHC) scheme.

Likewise, farmers will be entitled for 50 per cent subsidy on the purchase of agriculture implements for crop residue management like balers and superseeders.

The scheme will be instrumental in encouraging farmers to opt for crop residue management, he said.