The bank was formed by amalgamation, on the 31st March 2006, of the five banks, sponsored by SBI, to participate more energetically, with synergy, in the uplift and development of Rural Farm Sector and Rural Non-Farm Sector, with emphasis on the deprived, the Rural Poor, Rural ISB and Rural Crafts. The bank offers home loan, personal loan, education loan, agricultural loan, business loan etc.
Purpose – The loan is offered for raising various crops
Eligibility – All categories of farmers – Small/Marginal (SF/MF) and others including Tenant farmers and Share Croppers who actually cultivate the lands
Quantum of Loan – As per Scales of finance stipulated by the District Level Technical Committee, depending on the crop
Rate of Interest – 14%
Security –
| a) Up to Rs 50,000 | Hypothecation of crops |
| b) Above Rs. 50,000 and up to Rs. 1,00,000 | I. Hypothecation of crops |
| c) Above Rs.1,00,000 | ii. Mortgage of lands or Third party guarantee |
| d) For tobacco, Sugarcane and other crops under tie-up arrangement with boards/ factories/ companies | I. Hypothecation of crops |
| I. Up to Rs. 1 Lac | ii. Mortgage of lands |
| ii. Above one lakh | I. Hypothecation of crops |
| ii. a. Hypothecation of crops | |
| b. Mortgage of lands |
Documents required – Land records to ascertain cultivation rights, Acreage under different crops, Sources of other borrowings e.g. Co-operative Societies and Banks.