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State Bank of Hyderabad has entered into a memorandum of understanding with Tirumala Milk Products to provide loans to farmers for dairy activity.
According to the agreement, SBH would give loans to farmers who are identified by Tirumala Milk Products Ltd to undertake dairy activity.
“This will help increase income levels of farmers and also create employment,” Mr M. Bhagavantha Rao, Managing Director, State Bank of Hyderabad, told newspersons after signing the MoU here on Monday.
For the third consecutive year, SBH had completed the required priority sector lending for this financial year by December 31, 2011, he added.
The loans which are below Rs 5 lakh will also be eligible for a 25 per cent subsidy from the National Bank for Agriculture and Rural Development.
Mr B. Brahma Naidu, Managing Director of Tirumala Milk Products said farmers would be offered assured buy-back.
nagsridhu@thehindu.co.in
1 comments:
hallo sir this very very useful to young farmers iam very much intrest to take loan pls told me prosses for taken to loan i have 30 acers of own land and also post grduate in M.com
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