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BANGALORE, Feb. 19

STATE Bank of Mysore (SBM) has started funding procurement by the Horticultural Produce Co-operative Marketing Societies (Hopcoms), sources said.

The move is in line with bank's thrust on agriculture credit enhancement.

Moreover, the bank is setting up a rural development and training institute in Tumkur to impart training to rural entrepreneurs.

SBM has also launched a slew of new credit schemes aimed at the agriculture sector.

The Kisan Chakra scheme entails credit up to Rs 5 lakh for purchase of two-wheelers and four-wheelers for supervision and management of agricultural operations.

The bank has also launched Kisan Gold Card scheme under which a loan up to Rs 5 lakh could be disbursed to farmers to finance education, consumer durables, medical expenses and similar needs.

Under its Gramin Bhandara Yojana scheme, the bank finances building of rural godowns.

It has also launched schemes to fund purchase of solar voltaic pumpsets.

Moreover, the bank has targeted vanilla growers with loans up to Rs 60,000 to sow vanilla as an inter-crop with coconut, coffee, pepper and arecanut.

Vegetable growers have also been targeted with loans at 10.5 per cent interest rates.

Meanwhile, the bank is offering produce marketing loans up to Rs 5 lakh to provide liquidity to farmers and save them from distress sales of harvested produce.

The bank disbursed Rs 44.6 crore as agriculture advances last year and has disbursed close to Rs 89.85 crore in the first nine months of the current year.

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