SBI announces Rs 6,000-crore tractor loan settlement scheme

India’s largest lender State Bank of India (SBI) has announced a one-time farm loan settlement scheme worth Rs. 6,000 crore primarily for tractors. Under this scheme, loans disbursed before 2011 and falling under doubtful or loss category accounts as of September 2016, will be considered. Moreover, other agriculture loans like kisan credit cards and other term-loans for tractors and farm loans may also be covered under the scheme. Currently, SBI’s total farm loan portfolio is Rs. 1.25 Lakh Crore and tractor loan book is about Rs. 6,000 crore.

Month: Current Affairs - March, 2017