SBI issues fresh farm loan elibility to farmers

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Mumbai, Jun 2 (UNI) Taking a lead among commercial banks, the State bank of India today announced that it was the first bank to implement the loan waiver scheme, announced by Union finance Minister P Chidambaram in this year's budget and had geared up its rural branch network to implement the scheme.

SBI Chairman O P Bhatt, who visited Indore for the AGM of State Bank of Indore, took the opportunity for a first hand assessment of the level of preparedness and visited the Hamli rural branch in MP and issued fresh loan eligibility letters to 21 farmers.

Under the Scheme, agriculture loanees need not apply for debt waiver, the Bank would do it for them.

Mr Bhatt addressed a group of branch managers of Agri intensive branches and impressed upon them the need to rise to the occasion and implement the scheme.

He expressed his happiness over the meticulous preparations being made at Jamli branch for successfully implementing the scheme.

He also directed the Branch staff to implement the scheme within the set deadline and also extend fresh loans for the ensuing Kharif season as per requirement of the farmers. Meanwhile, all the Marketing and recovery teams and field staff have been mobilised for successful implementation of the scheme, SBI said in a release here.


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