Banks are taking up the scheme for taking over loans of farmers from money lenders. Banks are extending this scheme mostly to existing crop borrowers with interest rate linked to the PLR. Syndicate Bank allows loans upto Rs 2 lacs under small credit scheme by using Pygmy agents who are also used for promoting Pygmy deposit scheme. Under its two debt swap scheme SYND JAI KISAN and SYND SMALL CREDIT the bank has given out loans worth Rs 214 crores and Rs 70 crores respectively. UCO Bank has started from July 2008 debt swap scheme under which loans for Rs 25,000 are given and they have already disbursed Rs 7.50 cr. (BS 120109)
Saturday, January 17, 2009
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