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Money & Banking - Farm credit
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PNB agri credit disbursals rise 85 pc in Kerala

Our Bureau

Kochi , Nov. 17

Mr S.P. Singh, Zonal Manager of Punjab National Bank (PNB), Kerala Zone, has said that disbursement under the Special Agricultural Credit Plan for the half-year ended September has risen by 85 per cent over last year.

The loans disbursed amounted to Rs 30.73 crore, which is 63 per cent of the annual budget. PNB has seven rural branches in the State.

Outstanding retail credit grew by 67 per cent to Rs 565.11 crore from Rs 337.85 crore earlier.

Under the bank's Kisan Card Scheme, 3,347 cards have been issued to farmers.

A credit limit of Rs 50,000 to Rs 10 lakh would be fixed as per the eligibility norms to meet the short-term working capital limits of farmers as well as for their domestic requirements.

There are four types of cards - Vikas, Bhagyawan, Sarvottam and Gold.

The bank advances loan against pledge of 22 carat gold jewellery at the rate of Rs 640 per gm, which is one of the best rates in the State compared to other banks.

PNB also provides short-term credit to farmers up to Rs 3 lakh at interest of seven per cent per annum.

PNB has 71 CBS branches in Kerala. It offers Internet banking services facilitating the payment of utility bills, booking of Railway/air tickets, transfer of funds through Internet, etc. It has also started selling of 24 carat gold coins with 999.9 per cent purity to the general public at competitive rates. The Hallmarked gold coins are imported directly from PAMP refinery of Switzerland.

Customers are eligible for two per cent discount, as are members of the general public purchasing 10 coins and more. PNB plans to launch demat services and online trading of shares at select branches in the State.

More Stories on : Farm credit | Public Sector Banks | Kerala | Punjab National Bank

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