Business Daily from THE HINDU group of publications
Saturday, Jun 17, 2006
Business Daily from THE HINDU group of publications Saturday, Jun 17, 2006 |
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Money & Banking
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Public Sector Banks Agri-Biz & Commodities - Farm credit Indian Bank offers short-term farm credit Our Bureau
Hyderabad , June 16
Indian Bank on Friday announced that it would provide short-term credit to farmers at a concessional interest rate of seven per cent per annum. In a press release here, the bank said with this it would become the first bank to introduce this scheme in continuation of the Union Finance Minister's Budget Speech 2006-07 announcement and subsequently RBI's direction to ensure provision of short-term credit at seven per cent to farmers up to Rs 3 lakh. The Union Government would provide interest subvention of two per cent per annum to banks in respect of shot-term production credit up to Rs 3 lakh provided to farmers, the release said.
More Stories on : Public Sector Banks | Farm credit
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