The Hindu Business Line : Syndicate Bank schemes for agri-credit

SYNDICATE Bank has formulated a `special plan' for agricultural credit. Under this plan, for the development the agricultural sector in the Dakshina Kannada and Chikmagalur districts of Karnataka, the bank has already disbursed loans amounting to Rs 12 crore during the first half of 2002-2003 while the total lending to farmers in this region stood at Rs 108 crore.

The bank plans to conduct a special campaign in December to create `greater awareness' about its agricultural credit schemes.

According to a release here, the bank has been implementing the `special plan' in 208 villages in this area. The bank has so far issued 4,333 kisan credit cards with a total credit facility of Rs 17 crore in this region.

The special scheme is meant for financing the purchase of pumpsets, sprinklers, drip irrigation facilities, tractors, solar water heaters, apart from financing land development projects, diary and poultry development projects, lift irrigation systems, vanilla cultivation and development of farm houses among others.

The bank also claims to be laying emphasis on providing loans to meet the `housing needs' of rural people. The bank has also introduced the `Syndicate Laghu Udyami Credit Card' for small businessmen, retail traders, artisans, professionals, self-employed persons and small industrial units.

The bank has launched a new scheme for assisting small and marginal farmers for the purchase of agricultural land. Apart from free training for unemployed rural youth at the Rural Development and Self-Employment Training Institute jointly set up by the bank and the Syndicate Institute of Rural Entrepreneurship at Manipal, the bank has also embarked on lending under the Rural Employment Generation Programme encouraging villagers to take up cottage industries, small businesses and `service' activities. Borrowers under this scheme are provided `margin money' by the Khadi and Village Industries Commission through the bank.

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