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Tuesday, Aug 17, 2004

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Agri-Biz & Commodities - Farm credit

SBI Kerala Circle draws up special farm credit plans

Our Bureau

Kochi , Aug. 16

SBI Kerala Circle, which has increased the credit-deposit ratio by more than nine per cent, has drawn up special programmes to finance farmers through the Vegetable and Fruit Promotion Council Keralam (VFPCK) for financing in Agri-Export Processing Zone.

The bank is actively promoting organic farming in the State besides granting fresh loans to drought-hit farmers after giving moratorium for their existing loans, said Mr C. Narasimhan, Chief General Manager, SBI Kerala Circle.

He said the bank had improved its credit-deposit ratio from 40.01 per cent as on March 31, 2003 to 49.78 per cent as on July 31, 2004.

It has been targeting various client segments like trades, rice millers, PSUs, exporters of cashew, marine, coir, handloom, students, employees, and pensioners. In the last one year, total advances have crossed Rs 800 crore.

Together with the investment in Kerala-based PSUs and Government bonds close to Rs 1,200 crore, the credit deposit investment ratio will be 66.89 per cent, he said.

The bank has extended financial assistance to 200 consortiums offering employment to 8,000 persons under Project Uptech for coir clusters in Alappuzha. One more Project Uptech for technical upgradation of the handloom sector at Kannur is on the anvil, Mr Narasimhan said.

More Stories on : Public Sector Banks | Farm credit | Kerala

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