CHANDIGARH, Jan 18: The Punjab State Co-operative Agriculture Development Bank has introduced a deposit mobilisation scheme for farmers which offers a higher interest rate than the commercial banks.This was stated by Ranjit Singh Brahmpura, Punjab Co-operation Minister while addressing a press conference here today. He said the bank would offer an interest of one per cent more than other banks for its fixed deposit and recurring deposit schemes under the deposit mobilisation scheme to encourage farmers to deposit their money. Moreover, no Income Tax would be deducted at source.D S Grewal, Managing Director of the bank stated that the bank had bagged four national awards for outstanding performance in different areas during 1997-98.
