Andhra Pradesh - Hyderabad   

SBI flayed for stopping farm credit

HYDERABAD: The Andhra Pradesh Ryotu Sangham has criticised the State Bank of India’s decision to stop financing agriculture equipment like tractors and power tillers.

The SBI has decided to put on hold financing agriculture equipment owing to the rising non-performing assets in the segment. In a statement, Ryotu Sangham president K. Ramakrishna and secretary R.Venkaiah recalled that despite an announcement by the Centre fixing the interest rate on farm loans at 7 per cent a year, the SBI charged 9 per cent.

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