Indian Bank's short term credit for farmers

Hyderabad, Jun 16 (UNI) Indian Bank today announced short term credit facility for farmers at a concessional interest rate of seven per cent per annum.

The facility follows Union Finance Minister P Chidambaram's Budget announcement to ensure short term credit to farmers at seven per cent for loans up to Rs three lakh, the bank said in a release here today.

The move will benefit about 1.5 million farmers in the country and help improve agricultural production and productivity, it added.

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