Bharatiya Kisan Sangh’s bank for Farmers

published on September 29, 2008

Social service by Kisan Sangh

Bharatiya Kisan Sangh (BKS), the premier organisation of farmers of the country, has started banks in four villages in East Andhra Pradesh to aid the farmers. Each farmer deposited their money at the rate of Rs. 50 per month. The banks have a membership of 303 farmers in all and the deposits totaled up to Rs. 11 lakh soon. Ninety-per cent of this was disbursed as loan to farmers. The recovery is 100 per cent. All this goes on merely on mutual trust among the farmers. There is no employee in the banks. That way the expenditure is minimised. Last year, one of the banks purchased manure and seeds on joint bargain method and it could sell them at dramatically lower prices (compared to the market level) to member-farmers as well as other farmers. This is one of the projects of social service by BKS.

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