DCC Bank president S L Dharme Gowda said that the bank has decided to disburse a crop loan of Rs 80 crore at zero per cent interest to farmers during the year and Rs 20 crore will be released within two days.
Speaking to reporters, he said NABARD lends money to DCC Bank at 5.5 % interest, which will be lent to farmers at zero per cent interest. A farmer can borrow loan up to Rs 3 lakh at zero per cent interest. Already, the bank has received 23,000 applications seeking crop loan, he added.