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New Delhi, May 20 The country’s largest bank, State Bank of India’s decision to stop disbursals on farm loans during peak agriculture season would affect the farm machinery business, the President of Tractors Manufacturers Association (TMA), Mr L D Mittal, said. He said that SBI’s action would affect the positive sentiments generated during the Union Budget with the farm loans waiver.

“Proposals in the Union Budget regarding loans to the agricultural sector were very well received and the positive sentiment generated now stands severely dampened. State Bank of India should reconsider its position urgently in this regard and find ways and means along with the farm equipment industry to create filters of customer quality, so that its own interests and that of the industry are well protected. In the meantime, it should keep the momentum of farm loans at the earlier level in the overall interest of the farming sector and the national economy,” he said.

More Stories on : Credit Market | HCV/LCV/Tractors | Farm credit | State Bank of India

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