which has been centralized for as- |
nipulative trend that was set earlier |
Shopian . Tapping the remaining |
sessing further scope of the project . |
has been reversed to an extent |
growers will generate credit of about |
The Bank has also sped-up its |
whereby the traders themselves ap- |
Rs . 6500-7000 crore more . |
financing to the critical support |
proach the grower for procuring the |
Executive President Parvez |
structure like CA stores , which ex- |
crop . Earlier , the grower was at the |
Ahmad , who is heading the ' Apple |
tend shelf-life of apples to 10-12 |
mercy of the traders and the money- |
Project ' of the bank , while commentlenders |
months , to help and sustain the small |
. |
ing on the role of J & K Bank in mak- |
apple growers in the process . |
As the Bank engages in impact |
ing the Apple industry vibrant said , |
Meanwhile one of the major |
study of its pilot effort , significant |
“ Our horticulture sector in Kashmir |
reliefs in the scheme was that the |
strides have been made towards res- |
region is mainly driven by apple inbank |
pleaded on behalf of growers at |
cuing the farmers from exploitative |
dustry . It ' s an underserviced and po- |
the central level and got a special |
noose of usurious moneylenders . |
tential sector and next to personal and |
sanction for the extension of interest |
It is also interesting to note that |
consumption loans the major attrac- |
subvention scheme for them through |
many farmers in the valley have |
tion for the bank in the retail sector is |
the bank . |
shifted their agricultural practices to |
the apple finance . Keeping in view in |
|
By virtue of this interest subthe
vention scheme , the loans under apclassification ple finance scheme of the bank are granted at an interest rate ranging
from 7-10 %. Further 3 % interest
rebate is given to the growers if they repay the loan within the stipulated period . This means the loans are
available at 4 %, which is a huge leap towards empowerment to the growers . As the project progresses ahead , a proper monitoring system has been set in place at the corporate
|
horticulture . Especially in south
Kashmir many farmers have con- verted their agricultural land into
orchards after they noticed changing
living standard of their fellow farm- ers engaged in horticulture activi- ties .
The growers are of the opinion that the rate hike in apple last year was direct result of their strength to bargain with their counterparts outof side state mandis made possible only by their sense of being empowered
|
State Domestic Product and its in the priority sector apple industry and realise its true the major contribution of this sector in coupled with the relaxed asset classi- fication norms , we see a lot of advan- tages for the bank to have a special focus on this sector . Bank has already customised its apple finance scheme to meet variant needs of the small ap- ple growers . We have already set up plans for the growth and development potential . |
level to assess and scrutinize the ac- |
financially by the Bank . |
He further stated that the bank is |
|
tual unfolding of the project on ground so that timely interventions are made instantly wherever the need arises .
While analysing the impact of
the ' project ', it came on the forefront that this relief has changed the fortunes of the growers and now the ma-
|
As the Bank has already excommon tended the implementation of its ' Apchoosing ple Project ' to all the districts of valprices ley , the bank envisages tapping more
Out of a total 2.83 lac apple growers in the state , bank ' s finance has been extended to about 17300 growers in two districts of Baramulla and
|
grower the freedom of buyers and negotiating for his hard-earned produce . very much on track to facilitate to a
“ It is this choice that lies at the center of not only his financial empower- ment but economic success of the whole apple industry ,” he said .
|
| KASHMIR SCAN | May 2013 | 1 | |