NEWS & ADVICE : PERSONAL LOAN
Indian Overseas Bank aims to open 40 agri business branches
By Vaibhav Aggarwal
Dec 11, 2012
Print    Email    RSS   

Indian Overseas Bank has laid an ambition to open 40 new specialized agri business branches to focus on the rural lending, with two of the branches in Andhra Pradesh, according to Mr. M Narendra, Chairman and Managing Director of Indian Overseas Bank.

After inaugurating the new premises of the regional office of IOB, he said, "There is immense potential for such branches in Andhra Pradesh too, and we are initially planning two such branches in Godavari district".

Mr. Narendra said that the bank will be focus on lending to small farmers and agri-processing units rather than promoting high-tech agriculture. Around 70 per cent of the branches are in the rural and semi-urban areas. The bank has also pumped in additional investments of Rs 616 crore apart from crop loans.

Mr. Narendra also said that the bank had introduced special loan schemes for urban horticulture. According to this scheme, a borrower could take loan of Rs 25ooo to Rs 2.5 lakh for raising a roof garden or a backyard garden. While, institutes can borrow up to Rs 25 lakh. The bank is aiming to lend at least Rs 100 crore under the head during the current year.

The bank is also focusing on the small and medium enterprise by opening SME loan processing center.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Gold based financing; 'loan to buy gold...
Manage your loans, avoid recovery agents
Bankers concerned on RBI loan recovery...
Managing and emerging out of institutional...
Glittering Ways of Investing in Gold


DℰℒHI ℰscℴℝt ¶ +919999597304 !! Caℒℒ...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive