New Delhi. Now it will be easy for farmers to get loans. In fact, the country’s largest lender State Bank of India (SBI) has joined hands with Adani Capital to provide loans to farmers in the country. Recently, SBI has entered into an agreement with Adani Group’s NBFC arm Adani Capital Private Limited to provide loans to farmers for the purchase of tractors and agricultural machines.
Will give loan in association with NBFCs
The statement issued by the bank said, “With this partnership, SBI will be able to provide loans to farmers who want to buy agricultural machines to increase the productivity of crops. SBI is trying to increase the process of lending by collaborating with several NBFCs to help them financially on farm machines, godowns, Farmer Producer Organizations (FPO) to double the income of the farmers. ”
What will be the benefit of partnership?
SBI Chairman Dinesh Khara said, “We are delighted to join hands with Adani Capital under the co-lending programme. This partnership will expand the number of customers of SBI. Along with this, it will help in connecting with the country’s agricultural sector and contribute to the development of India’s agricultural economy. Further, we will continue to work closely with more NBFCs to reach out to maximum customers in remote areas and provide last mile banking services.”
Which farmers will get benefit?
Gaurav Gupta, MD & CEO, Adani Capital said, “Our aim is to provide affordable loans to the Micro Entrepreneurs of India. Our partnership with SBI is to provide these facilities to the Indian farmers who do not get the service of the bank. Through this partnership, we aim to contribute to farm mechanization and improve productivity and income of the agriculture sector.”
