The Hindu : Andhra Pradesh / Visakhapatnam News : Bank to issue credit card to ryots

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Sunday, Aug 01, 2004

Andhra Pradesh

Andhra Pradesh - Visakhapatnam

Bank to issue credit card to ryots

By Our Special Correspondent

VISAKHAPATNAM, JULY 31. The Sri Visakha Grameena Bank proposes to issue Kisan Credit Cards to 30,000 small and marginal farmers with an outlay of Rs. 60 crores, its Chairman, T. Madhava Rao, said on Saturday.

Addressing a function arranged by the Sabbavaram branch of Sri Visakha Grameena Bank to finance 150 farmers to the extent of Rs. 40 lakhs at Sabbavaram, he said that there was also a proposal to sanction loans to 18,000 self-help groups to the tune of Rs. 40 crores.

Loan reschedule

The bank had launched a special drive to reschedule the crop loans and sanction new loans, he said. Mr. Madhava Rao said that as per the guidelines of the Government, all crop loans as on March 31 this year would be rescheduled with a moratorium for two years and these loans would be repayable from the third year in instalments. All these borrowers were eligible to get new crop loans, he explained. Also, the farmers who had not taken loans so far would be sanctioned finance immediately on production of the valid documents, he said.

The Revenue Divisional Officer, Markandeyulu, handed over the loans to the farmers on Saturday.

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