RDC Bank will offer interest-free loan to flood-hit farmers

RAJKOT: The Rajkot District Co-operative Bank Ltd (RDC Bank) has announced to offer interest-free loan to flood-hit farmers in four talukas of Rajkot district to help them rebuild homes and livelihood. The loan will be given only to members of RDC Bank.
According to bank officials, the decision was taken to help farmers in flood-affected areas — Gondal, Dhoraji, Upleta and Jetpur talukas — of Rajkot.
"The recent heavy rains have washed out farms. Seeds that were sown have also been washed away in these four talukas. To help flood-hit farmers in their critical time, we have decided to offer interest-free loan up to Rs 1 lakh. The bank will offer Rs 20,000 per acre and maximum loan amount will be Rs 1 lakh," Vitthal Radadia, chairman of RDC Bank, said. Radadia is also BJP MP from Porbandar.
"There are about 62,748 members of RDC Bank in these four talukas. Members will have to produce documents of agricultural department’s survey about the loss of their farms and crops to avail the benefit," said a bank official.
Every year, RDC Bank gives around Rs 1,550 crore loan to farmers in Rajkot district.
"In last two consecutive financial years, the bank has waived interest on agriculture and crop loans to help farmers. We give credit to around 1.8 lakh farmers in Rajkot district," said an official.
The recent floods have devastated hundreds of fields in Rajkot and Amreli district as it washed away fertile top soil as well as seeds that were sown.