The Indian Bank has launched 3 new products and solutions to support farmers, poultry players and the workforce in the casual sector during the current disaster brought on by the outbreak of dreaded Covid-19 virus.
Underneath the IND Covid Crisis Agro-Processing Financial loan, agro-processing models can avail ten for each cent of the doing work money restrict.
Borrowers in the poultry sector (layer/breeder/broiler) can avail 20 for each cent of the doing work money restrict underneath the IND Covid Crisis Poultry Financial loan scheme.
Similarly, underneath the IND KCC Covid Sahaya Financial loan, farmers cultivating crops and rearing animals and possessing Kissan Credit Card facility can avail ten for each cent of the restrict as a delicate bank loan, Indian Bank explained in a assertion. The loans are repayable in quick instalments with six months moratorium interval, it explained.
Other than, underneath a unique credit rating deal “SHG Covid Sahaya Loan”, females members of Self Assistance Groups can avail bank loan @₹5,000 every. So an SHG with 20 members can avail a bank loan up to ₹1,00,000 as a delicate bank loan repayable in quick instalments, the Bank explained.
Covid-19 has affected farmers and workforce in the casual sector as well. When the food and agro-processing companies’ have witnessed a drop in cash movement, farmers are going through a liquidity disaster as they have issues in doing work on their land and though accessing markets to promote their products and solutions or invest in vital inputs. In the poultry sector, the sector is affected by pretend information unfold amid the frequent public about their products and solutions.