Union Bank introduces Green Card for tenant farmers

Mumbai, Sep 15 (UNI) With a view to provide hassle free institutional credit to meet the needs of tenant farmers, oral, lessees, share croppers and landless labourers, the Union Bank of India (UBI) has come out with a unique loan product, Union Bhumiheen Green Card.

Introduction of this scheme will benefit the tenant farmers in holistic manner and should come as a boon to them, said the bank's Press release here today. With the launching of the card, the bank will increase its customer base, the release added.

The card will be issued for a period of three months by all rural branches of the bank. The advance will be by way of working capital/production credit for raising crops and term loans for acquiring assets in forms like cattle, etc. The scheme is expected to benefit not only individual farmers, but also group of borrowers including joint liability groups and self help groups.

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