PSBs may not meet agri-lending target

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SummaryLeading public sector banks in the country, including State Bank of India, Union Bank of India and Bank of Baroda, will need at least 2-3 years to meet the agri-lending targets stipulated by the Reserve Bank of India.

then take this route. This is not a viable route,” said Ram S Sangapure, GM retail of Central Bank of India.

Apart from lending more aggressively to farmers, bankers say they are looking to meet to meet their agri-loan targets through schemes like the Kisan Credit Card scheme and have sanctioned loans to the tune of R5.2 lakh crore since the inception of the scheme in 1998-99. Other options to boost lending to agriculture include lending to Farmers’ Service Societies (FSS) and Large-sized Adivasi Multi Purpose Societies (LAMPS).

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