State Bank of Travancore’s Managing Director, Mr A. K Jagannathan announced here in Thiruvananthapuram that SBT’s special agricultural lending campaign had crossed the Rs 500 crores target it had set. At the end of this campaign, which spanned July 20 to September 30, a total amount of Rs 502 crores had been disbursed to 94 000 farmers.
During the campaign period, SBT in association with NABARD (National Bank for Agricultural & Rural Development), had facilitated the opening of 70 farmers clubs. As part of its financial literacy and credit counselling programmes, the bank also oversaw the conduct of farmers’ meets, loan disbursement campaigns and seminars for disseminating information on farming and credit facilities.
According to GM (Planning & Development.), Mr A. K Pradhan, the bank has assisted 15,000 members of self-help groups (SHGs), a majority of them being women. Further, processing charges were waived and interest concession was offered during the Harithotsavam campaign. The bank has also slashed interest rates on short-term agricultural credit to 7 per cent for loans up to Rs 3 lakh and 10 per cent for those in excess of Rs 3 lakh up to a maximum of Rs 25 lakh.