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Tuesday, Aug 17, 2004

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Union Bank to lend more for agriculture

C.R. Sukumar

Mr V. Leeladhar, Chairman & Managing Director, Union Bank of India

Karimnagar (A.P.) , Aug. 16

UNION Bank of India has chalked out several schemes for agriculture sector in addition to those firmed up in close association with the Indian Banks' Association (IBA), the bank's Chairman and Managing Director, Mr V. Leeladhar, has said.

Mr Leeladhar, who is also the Chairman of IBA, said in keeping with the national policy of increasing credit flow to agriculture and rural development, the bank has taken major initiatives to double the flow of credit to agriculture in the next three years.

Talking to reporters here on the eve of `agriculture disbursement fortnight programme' taken up by the bank, he said 30 potential regions of the bank were identified to increase their agriculture lending targets.

Apart liberalising the margin and security norms, the bank has advised its rural and semi-urban branches to add atleast 100 new farmers on an average during the year and finance at least 10 agri-clinics in each district.

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