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Friday, February 15, 2013

SBI to offer loans for buying micro-irrigation systems

The country’s largest lender State Bank of India (SBI) has entered into a partnership with Mahindra group company, EPC Industrie Ltd, to provide loans to farmers who wish to use EPC’s micro-irrigation systems.

“EPC will assist the bank in identifying eligible farmers with a requirement for micro-irrigation systems, crop management services and agriculture pumps,” SBI said in a release.

The bank said that it expects that a large number of farmers will be financed through this tie-up in the coming months as the use of water-saving methods like drip and sprinkler irrigation method is being encouraged by various state governments.

It did not mention the quantum of loans, the eligibility criterion and the rate at which it will lend.

Source: thehindubusinessline


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