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Thursday, June 18, 2020

Big relief to farmers: District Bank to provide Kovid-19 special loan for purchase of seeds, pesticides

Surat District Bank of Surat and Tapi district farmers has completed 111 years and entered its 112th year. At this stage, the bank will provide special loans to farmers to help them buy seeds as well as pesticides. Out of Jai, 17,000 farmers in both the districts have started giving loans for five years to credit card holders in the limit of Rs. 50,000.

The bank provides credit for the development of farmers, pastoralists and small traders

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Naresh Patel, chairman of the bank, said the bank provides Rs 2,960 crore a year against deposits of Rs 6,130 crore for the development of small traders, including farmers and pastoralists. It has zero per cent net NPA with an internal funding of Rs 500 crore. As on March 31, the bank has a net profit of Rs 70 crore and a net profit of Rs 16 crore. The bank has 111 branches in Surat and Tapi districts with 111 ATMs and more than 11 lakh members.

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