Rural Bank’s warning to farmers

Press, 26 September 1980, Page 15

Rural Bank’s warning to farmers

The Rural Bank intends to toughen up on farmers taking part in the livestock incentive scheme who have not yet forwarded their annual returns of livestock.

The bank's deputy general manager. Mr Hec King, has warned farmers, who have failed to make returns, that they face being excluded from the scheme and their loan being made immediately repayable.

To enable the hank to satisfy itself that the necessary livestock increases have been achieved and maintained, farmers are required during the period of the livestock increase programme and the twoyear sustaining period to supply to the bank a return showing the numbers and classes of livestock owned and on their property at June 30 each vear.

This return was due at the bank by August 31 but, although the requests were mailed to farmers about a month earlier this year, there were still a number of returns outstanding, said Mr King.

“With nearly 10.000 farmers participating in the scheme, involving loans oi more than S9IM,

the bank must insist on

prompt compliance with tlie terms and conditions,” he said.

“In previous years when we were' ’ dealing with smaller numbers we yvere able to chase up farmers who had failed to furnish

returns by August 31. but not this time. “Farmers who have failed to make a return are now receiving letters from the bank giving them 11 days in which to return their annual livestock

form. Failure to comply with this request will result in exclusion from the scheme and repayment of the loan," said Mr King.