Business Daily from THE HINDU group of publications
Wednesday, Mar 26, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Mar 26, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Public Sector Banks Agri-Biz & Commodities - Farm credit States - Karnataka Syndicate Bank to speed up loans to farmers in Karnataka 
Speedy assistance: Mr C.P. Swarnkar, Chairman and Managing Director, Syndicate Bank (right) and Mr Sudhakar Rao, Chief Secretary, Government of Karnataka, at the State Level Bankers Committee meeting in Bangalore on Tuesday. — Our Bureau Bangalore, March 25 Syndicate Bank has agreed to provide immediate financial assistance to farmers affected by the unseasonal rains in Karnataka. Speaking at the State Level Bankers Committee meeting here today, Syndicate Bank’s Chairman and Managing Director, Mr C.P. Swarnkar, said, “Taking into account the extent of damage already caused by the untimely rains, it is desired that the bank branches take effective steps for speedy disbursement of assistance.” Syndicate Bank is the lead bank for Karnataka. The assistance will be in the form of short-term loans for raising crops and term loans for purchase of draught animals and repairs to existing wells and pump sets, he said. The assistance to farmers also included issue of fresh loans, restructuring of existing loans without insisting for additional collateral security. In addition, farmers would be provided with fresh loans for resumption of business. For credit assistance to affected farmers, the bank was planning to organise credit camps for implementing the relief measures. He said that banks had disbursed Rs 20,820 crore till December-end under the annual credit plan for the year 2007-08, against the target of Rs 26,829 crore. More Stories on : Public Sector Banks | Farm credit | Karnataka
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