SBI sanctions 550 cr loan to farm sector in Guntur region

Guntur: State Bank of India, Amaravati Circle Chief General Manager Mani Palvesan said the bank has sanctioned Rs 550 crore loans for agriculture sector in Amaravati region during the current financial year. He said that they were forefront in sanctioning loans to agriculture sector. He distributed loans to beneficiaries under the Pradhan Mantri Mudra Yojana Scheme at a programme held in Guntur city on Thursday. 

Speaking on the occasion, Palvesan said the bank has sanctioned Rs 97 crore under the government-sponsored schemes. He said that Pradhan Mantri Mudra Yojana Scheme was useful to industrial units under self-employment and added that while the target for bank to sanction loans under the scheme was Rs 2,300 crore and the bank so far had sanctioned Rs 750 crore and urged the beneficiaries to properly avail the scheme and repay the loans to bank within the stipulated period.

To a question, he said the bank has liberalised the norms to open the accounts. Earlier, Mani Palvesan distributed loans worth Rs 3 crore under the Pradhan Mantri Mudra Yoana Scheme to the beneficiaries. SBI Amaravati Circle Deputy General Manager D Premji said that bank has taken steps to render better services to the customers.