Mumbai: State Bank of India (SBI) is likely to announce a special loan package for farmers in the next two days, an official close to the development said on Wednesday. “This is to help farmers to meet credit requirements for kharif and rabi crop,” the official said. The loan is likely to be priced at around 8% on slabs varying from Rs3 lakh to Rs25 lakh.
In February, SBI had offered loans against cold storage and warehouse receipts at 8% for one year. This facility, which was offered until May, was later extended until September.