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5:57 am - Monday November 20, 2017

SBI to disburse Rs 1600 core Agrl loans to farmers : Minister

Thiruvananthapuram:

Kerala Agriculture Minister VS Sunil Kumar has said the State Bank of India (SBI) will disburse agriculture loans worth Rs 1600 crore to farmers this year in the State. A decision in this regard was taken at a meting between the Minister and the top officials of SBI recently.

The Bank also agreed to spend Rs 300 crore for paddy procurement as part of an agreement with Supplyco, the Minister added. The Bank, having the largest number of bank accounts of farmers, will provide zero bank account facility for peasants, he added.

The Bank will provide loans upto three lakh with less interest of four per cent to vegetable farmers. About 3,600 farmers will get the benefit of one-time settlement in which debt-ridden farmers can settle their loans before March 31, 2018, he added.

Posted in: Business

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