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TelanganaKarimnagarKarimnagar DCCB announces loans at 5.5pc interest for watershed projects

Karimnagar DCCB announces loans at 5.5pc interest for watershed projects

Published: 4th Mar 2021 11:40 pm

Karimnagar: Karimnagar District Cooperative Central Bank (DCCB), which has been encouraging watershed programmes in rural areas, has gone a step further and announced financial assistance (loans for agriculture and non-agricultural activities) at only 5.5 percent annual interest rate.

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In order to give a fillip to the agricultural activities and rural prosperity, the NABARD and DCCB authorities have launched awareness programmes in the watershed villages about the importance of availing loans at cheaper rates and strive for their economic activities on the farm and other sectors.

DCCB CEO N Satyanarayana Rao, NABARD DDM P Ananth, Vemulawada PACS president Thirupathi Reddy, SEWS programme coordinator P Krishna have been touring several villages and educating farmers and women Self Help Groups about the loans at lowest interest rates for agriculture and non-agricultural activities including construction of houses.

Thanks to the participatory watershed programme, the upland and drought-prone villages have completely transformed with the rise in groundwater table and water for irrigation sources is being provided to farmers. The watershed programme was taken up at Shatrajpalli, Vattemula, Namiligundipalli and Fazulnagar villages and Reddypalem hamlet in Vemulawada rural mandal by the Self-employed welfare society (SEWS) voluntary organisation with the financial assistance of Rs 1.8 crore provided by the NABARD.

Once barren lands, the watershed has completely transformed these villages and made over 3,500 hectares of land cultivable following the recharging of ground water table from 20 meters before the start of the watershed to 5 meters now.

The dry villages are turning green and lands have become fertile and the farmers could see water at check-dams, contour trenches, rock-fill dams, farm ponds, open wells etc.
Before the watershed project, there was migration of rural folk to the Gulf nations in search of employment. Now, it is another way round. The Gulf immigrants are coming back to their villages to take up farm activities with the availability of water.

DCCB CEO N Satyanarayana Rao said that the Karimnagar DCCB had taken up two watershed projects in the integrated Karimnagar district one at Gambhiraopeta mandal and another in Vemulawada rural mandal villages.

In order to give a fillip to the agricultural activities in the watershed villages, they have decided to extend financial assistance for farm operations and other non-agricultural activities such as construction of mini-rice mills, dal mills, godowns, food processing units, housing etc., at low interest rate of only 5.5 per cent, he stated.

In order to encourage the small traders and rural artisans, the DCCB has also decided to extend loans without any securities in the watershed project villages, he added. “Our mission is to transform villages and encourage rural prosperity by promoting agriculture and other allied activities such as dairy, sheep, goat, fish rearing etc by providing loans”, he stated.

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