SBI may announce loan for farmers at 8% soon

SBI may announce loan for farmers at 8% soon
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First Published: Wed, Sep 02 2009. 10 00 PM IST
Updated: Wed, Sep 02 2009. 10 00 PM IST
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.
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First Published: Wed, Sep 02 2009. 10 00 PM IST
More Topics: SBI | Loans | Farmers | State Bank of India | Kharif |