SBI to help farmers buy agricultural machinery
New Delhi, Apr 14: The State Bank of India has signed a Memorandum of Understanding (MoU) with Class India Ltd to finance farmers to purchase combine harvesters.
''The MoU between the Bank and Class India Ltd would encourage farmers to adopt farm mechanisation. The use of combine harvesters will help them to initiate speedy harvesting as well as timely sowing of crops,'' a release here said.
Class India Ltd is a key player in the global market for agricultural machinery.
The bank will provide requisite financial support to farmers for acquiring the combine harvesters from the company.