Tractor Finance News

Special Settlement for Tractor Loan Borrower by SBI

The State Bank of India (SBI), Chennai has given offer for recovery of dues from defaulting farmers who had failed to repay their farm mechanisation and tractor loans. The Special SBI OTS for Tractor and Farm Mechanisation Loans 2015-16 gives the farmer an opportunity to exit the defaulting account.

Mr. Ramesh Babu, SBI Chief General Manager, observed several tractor loan borrowers at hethuvasalpatti near Kumbakonam and called those farmers to utilise the scheme.

Mr. Ramesh Babu wanted more actions to be taken to disburse credits under the Pradhan Mantri Mudra Yojana to benefit traders and small business persons. The scheme would help manufacturing, trading and services sectors in the non-farm sector with credit limits of up to Rs. 10 lakh, the CGM said.