The Hindu Business Line : Bank employees seek more credit for farm sector

THE United Bank of India Employees' Union (UBIEU), affiliated to the Bank Employees Federation of India, wants greater credit for the farm sector at cheaper rates of interest to revive the rural sector, according to Mr D. Mohan Kumar, Secretary.

He said at a press meet here on Tuesday that though 67 per cent of the population was living in rural areas, lending to agriculture accounted for just 26 per cent of the total advances of the public sector banks.

He said the public sector banks were lending to the farm sector at nine per cent interest while charging only six per cent to the multinational corporations.

This subject would be discussed along with other issues at the fourth State conference of the union being held here on August 28.

Public sector banks, he lamented, were slowly forgetting the service motive and giving priority to big business houses and multinational corporations.

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