India News | State Cooperative Banks in Punjab to Offer Loans on Crop Residue Management 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.

Also Read | Agar Malwa Shocker: 15-Year-Old Boy Dies While Playing Cricket in Madhya Pradesh.

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.

Also Read | Shahjahanpur Shocker: MBBS Student Found Dead on Campus Under Suspicious Circumstances in Uttar Pradesh, Probe Underway.

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.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)