Farmers asked to renew crop loans

Anantapur: Syndicate Bank General Manager (GM) S Vijay Kumar has exuded confidence that the bank will surpass the target for issuing crop loans during 2018-19.

He was reviewing the progress of the bank’s 87 branches at the Zilla Parishad (ZP) office here on Monday. Later, speaking to the media, he said the bank has set a target of achieving a business turnover of Rs 6,500 crore during the current fiscal year.

The bank managers have been asked to extend Rs 300 crore more towards loans. He asked 1.15 lakh farmers to renew their loan accounts by July 15. The target for the bank is to mobilise Rs 2,000 crore towards deposits and extend Rs 3500 crore towards the loans. During 2017-18, 275 unemployed youth were given loans to the tune of Rs 1.24 crore.

The bank has extended farm loans up to Rs 26,000 under the scale of finance programme. He asked the farmers to renew their loan accounts and obtain new loans. Syndicate Bank Regional Manager Gopi Krishna, Deputy Regional Manager Lakshmi Reddy, Marketing Manager Lokesh and others were present on the occasion.