Minister V S Sunil Kumar asks banks to stop diverting funds as gold loans

Thrissur: Agriculture minister V. S. Sunil Kumar on Saturday urged banks to stop advancing low-cost farm loans for unproductive purposes as gold loans. Inaugurating the Amruthodyanam Punarujjeevanam project of the Kerala Agricultural University (KAU) at the Viyyur Central Jail here and releasing NABARD's potential credit plan, he said significant portions of these funds thus did not benefit farmers. “The real farmers do not have much gold with them, and those who pledge large quantities are not into farming. The government wants to stop misusing funds earmarked for them," he said.

He lauded the farming programme on the jail campus, designed by Agricultural Research Station (ARS) of the KAU in Mannuthy, and hoped production of safe to eat vegetables and fruits would benefit its inmates as well as the public. "If you can use every inch of land and enhance production of vegetables and fruits as envisaged in the project, Horticorp will collect the products and pay for it," he said. "The KAU and department of agriculture will be there to help you. Once successful, others can emulate it.”