The Hindu Business Line : Farm loans to be 20 pc of Allahabad Bank's credit flow

The bank is eyeing fresh credit delivery to the tune of Rs 1,000 crore by the half year ending September 30 and Rs 2,500 crore by the end of the next quarter on December 31.The bank, with over 66 per cent of its branches in rural and semi-urban areas, disbursed Rs 2,025 crore during 2004-05 as against a target of Rs 1,102 crore. It recorded a 139 per cent increase in disbursement of fresh credit in fiscal 2005 over Rs 848 crore clocked in the previous year.

According to a press release, Allahabad Bankwill continue with its policy on agriculture lending. It is offering beneficial schemes for farmers and is now equipped to provide life and non-life insurance products to them under agency arrangements. It has also revamped its training system with the rural market in mind.

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