Now Reading: Telangana Grameena Bank sanctions farm machinery loans at Siddipet mela
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Telangana Grameena Bank sanctions farm machinery loans at Siddipet mela
Telangana Grameena Bank sanctions farm machinery loans at Siddipet mela
Telangana Grameena Bank sanctioned and handed over loans for around 20 tractors, four harvesters, two JCB machines, nearly 50 livestock units and women’s self-help groups at a loan mela in Siddipet on…
The Story in Brief
Telangana Grameena Bank sanctioned and handed over loans for around 20 tractors, four harvesters, two JCB machines, nearly 50 livestock units and women’s self-help groups at a loan mela in Siddipet on Thursday. The assistance covered beneficiaries from Siddipet and Medak districts. Bank chairman K Pratap Reddy said the tractors and harvesters were financed under the Agriculture Infrastructure Fund, while the bank also promotes schemes such as PM-KUSUM Solar.
Reddy said the bank’s total business stood at Rs 84,849 crore, including Rs 38,061 crore in deposits and Rs 46,788 crore in advances. It aims to reach Rs 1 lakh crore by March 2028. He said eligible rural and urban enterprises can access collateral-free MSME loans of up to Rs 2 crore. The bank also urged borrowers to repay on time and enrol in government insurance and pension schemes.
The Indian Opinion
Loan melas often produce easy claims about transforming rural incomes, but machinery alone cannot fix weak markets, high input costs or repayment stress. The bank’s promise of faster credit matters only if borrowers receive clear terms and can use equipment profitably. The useful test is whether these tractors, harvesters and JCB machines raise utilisation and repayment rates over the next two years, rather than simply increasing the bank’s loan book.
Source: thehansindia.com
This story was synthesised by AI from the source linked above.
