July 13, 2024

Paull Ank Ford

Business Think different

Indian Bank launches new products to support farmers, poultry players

The Indian Lender has introduced a few new solutions to aid farmers, poultry players and the workforce in the casual sector all through the present-day crisis induced by the outbreak of dreaded Covid-19 virus.

Beneath the IND Covid Emergency Agro-Processing Personal loan, agro-processing models can avail ten per cent of the functioning funds restrict.

Borrowers in the poultry sector (layer/breeder/broiler) can avail twenty per cent of the functioning funds restrict under the IND Covid Emergency Poultry Personal loan scheme.

Likewise, under the IND KCC Covid Sahaya Personal loan, farmers cultivating crops and rearing animals and possessing Kissan Credit Card facility can avail ten per cent of the restrict as a tender financial loan, Indian Lender claimed in a statement. The financial loans are repayable in simple instalments with six months moratorium period of time, it claimed.

Besides, under a particular credit bundle “SHG Covid Sahaya Loan”, gals members of Self Help Teams can avail financial loan @₹5,000 every. Hence an SHG with twenty members can avail a financial loan up to ₹1,00,000 as a tender financial loan repayable in simple instalments, the Lender claimed.

Covid-19 has influenced farmers and workforce in the casual sector as properly. Whilst the food stuff and agro-processing companies’ have witnessed a drop in dollars movement, farmers are going through a liquidity crisis as they have challenges in functioning on their land and while accessing markets to market their solutions or acquire necessary inputs. In the poultry sector, the field is influenced by phony information distribute between the common public about their solutions.