Home
SBI resumes farm implements loans
Calcutta News.Net
Wednesday 21st May, 2008 (ANI)
Mumbai, May 21 : The State Bank of India on Wednesday went back on its decision to halt loans for purchasing farm implements, after severe criticism from political parties as well as farmers.
The bank withdrew its earlier circular that outlined suspension of financing of new tractors and farm mechanisation equipment with immediate effect.
"We regret that our circular (asking SBI branches to put tractor loans on hold)... has been misunderstood and has given rise to concern. The circular is withdrawn with immediate effect," SBI Chairman O P Bhatt said in a statement here.
On Friday, SBI had issued a circular to its branches asking them to stop disbursals of new tractor loans, citing rising bad loans in this segment.
This decision of the country`s largest agri-lender, drew protests from across the country.
SBI has the largest farm loan portfolio amongst lenders in the country and in the period between April 2004 to March 2008, SBI financed 42 lakh new farmers.
Disbursements during this period aggregated to around Rs 70,000 crore.
Bhatt also said that the bank wanted to sensitise its branches to reduce the NPAs for the bank and also to help farmers take advantage of the Rs 60,000 crore waiver programme of the government.
He also said that the bank's non-performing assets (NPAs) in the agriculture sector had risen significantly in the past year.
 Email this story to a friend
Have your say on this story
|
 |
 |
- India tense as airports threatened
India has been on full terror alert with Chennai International Airport, one of the major airports in the country, under especially heightened security. [read story]
- Journalist slapped by Mohammedan Sporting's Nigerian player Okoro
Kolkata, Dec 4 (IANS) Two days before football legend Diego Maradona visits the city, ugly scenes were witnessed during Mohammedan Sporting club's training session here Thursday, when Nigerian striker Mike Okoro assaulted a journalist for asking uncomfortable questions. [read story]
- Dempo beat SBT 3-0 in Federation Cup match
Kolkata, Dec 4 (IANS) Dempo Sports club blanked State Bank of Travancore (SBT) 3-0 while Chirag United and Mumbai FC finished with a goalless draw in 30th Federation Cup final round group A league matches here Thursday. [read story]
- Two students assaulted by bus staff in Delhi suburb
Noida (Uttar Pradesh), Dec 4 (IANS) Two students were severely assaulted Thursday morning by the staff of a private bus in Noida, on the outskirts of Delhi, when they asked the balance amount of the money they paid towards their fares. [read story]
- Scarlett's mother given last chance to appear in Goa court
Panaji, Dec 4 (IANS) Slain British teenager Scarlett Keeling's mother Fiona Mackeown, facing charges of negligence towards her daughter, has been given a final chance to appear for a hearing on Friday by the Department of Women and Child Development, failing which ex-parte action would be taken against her. [read story]
|
|
 |
 |
|
|
