SBI extends loans offer for farmers till September 30
The country's largest lender, State Bank of India (SBI) has decided to extend the period of its concessional financing to the farmers against warehouse receipts by five months to September 30, 2009.
It should be noted that the state-run lender in February this year had started offering loans at a concessional rate of 8% to farmers against cold storage and warehouse receipts, in a bid to save them from falling prey to distress sale of their farm produce.
Earlier this week, the lender has extended its special home and car loans scheme last week at 8 per cent and 10 per cent respectively, for the first one year, till September
Till date, SBI is the biggest lender to the agriculture sector and has a portfolio of over Rs 60,000 crore and a customer base of over 7 million accounts.