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AP Grameena Bank offers help to farmers

Our Bureau Hyderabad | Updated on October 28, 2013 Published on October 28, 2013

The Andhra Pradesh Grameena Vikas Bank has announced a slew of measure to come to the aid of the farmers impacted by the recent cyclone and heavy rains. It will extend crop insurance facility to farmers who have obtained crop loan from banks.

The bank will also consider immediate sanction of crop loan to those who repay their existing loan. To those farmers who repay their existing loan, fresh loan will be sanctioned on the same day, with 30 per cent increase, of which 10 per cent will be for family consumption purpose and 20 per cent towards farm equipments.

In the case of input subsidy, which the State Government has announced today, the bank is willing to route it through the farmer’s account. Similarly, the Ggovernment will bear the interest burden on loans up to Rs 1 lakh, it said in a press release.

The bank is jointly promoted by Government of India, Government of Andhra Pradesh and State Bank of India.

The bank is making all arrangements to issue RuPay Credit and Debit Cards to all customers.

As a short term target, one lakh RuPay Kisan Credit Cards and 2 lakh RuPay ATM Debit Cards to the farmers and depositors will be issued during November.

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Published on October 28, 2013
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