Kathmandu, July 7: Minister for Agriculture and Livestock Development Ramnath Adhikari has urged the Nepal Rastra Bank (NRB) to make necessary arrangements to simplify agriculture loans.
In a discussion with the NRB governor, Dr Biswo Nath Paudel on Sunday, Minister Adhikari underscored the need for an easy procedure for farmers to access agriculture loansas the role of banks and financial institutions is crucial for poverty alleviation through agro enterprises. "I urge the central bank to effectively monitor whether or not the agriculture loan is being properly utilized", Minister Adhikari shared, stressing the need to end the misuse of loans for purposes other than agriculture.
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The government-owned banks should also increase their agricultural loans and comply with the central bank's arrangements regarding agricultural loans, the minister noted. Governor Dr. Paudel expressed concern over the improper use of current agricultural investments, stating that it is essential to work towards achieving results. He emphasized the need for investments to be effective, as farmers are unable to gain returns from the investments made in agriculture without innovation.
Dr Paudel further shared that he has also listened to grievances during his field visits that those playing with soil are denied grants, but those putting things in papers are receiving them.
