Financial Daily from THE HINDU group of publications
Friday, Apr 04, 2003

Port Info

Group Sites

Money & Banking - Private Banks
Agri-Biz & Commodities - General Insurance

ICICI Bank mulls introducing rain insurance product

Our Bureau

MUMBAI, April 3

ICICI Bank has disbursed Rs 2,000 crore towards agriculture and food-based projects during the 2002-2003 fiscal, Mr Nachiket Mor, Executive Director of the bank, has said.

It was also considering introducing a rainfall insurance product for its various farm-related business activities. The product would be designed by ICICI's insurance arm, he said.

In the area of agri-business finance segment, ICICI Bank has been looking at various businesses including dairy, sugar, seed aquaculture, direct farmer finance, agricultural infrastructure and food processing.

According to Mr Mor, the bank has been working to provide complete supply chain solutions by assisting farmers to adopt better and more efficient production technologies through its Farmer Service Centres in collaboration with input service providers.

It is also involved in the development of post-harvest infrastructure including grading, sorting, cleaning, packing, transport and storage to reduce wastage and post-harvest losses and is also facilitating backward and forward linkages with farmer, input service providers and marketers.

According to Mr More, ICICI Bank is comfortable with lending to the farmers through the input supplier company or the Government.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Weak dollar bloats forex reserves by 20 pc

Offshore staff help forex kitty boom
Re weakens; gilts rally
Kerala State Housing Board cuts loan rates
Citibank launches property show in Hyderabad
Double whammy for bank employees
Indian promoters of banks may be allowed higher stake
ICICI Bank mulls introducing rain insurance product
Union Bank advances up by 19 pc
Karnataka Bank turnover up 25 pc
Central Bank to vend LIC policies
UBI credit plan
SBI Bangalore card launched
New GM for Karnataka Bank
Employee-Director of Andhra Bank

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line