SBI Loan Scheme: If you are a farmer and your account is in State Bank of India (SBI Loan Scheme for Farmers), then there is good news for you. SBI has come up with a new loan scheme, under which loans will be provided to farmers on easy terms. A top bank official said that the scheme has been named ‘Safal Loan Scheme’.
Under ‘Safal’, such organic cotton producers, who have not taken any loan so far, will be given cheaper loans on easy terms. Organic cotton producers include several categories such as organic cotton producers.
Farmers will benefit
SBI Managing Director CS Setty said that SBI is the largest lender bank in the country. It helps a lot in generating business. For this, artificial intelligence and machine learning are being used extensively. We want to get out of our retail segment and reach out to farmers. He said that at this time we are not only giving crop loans, but will soon be launching safe and fast agriculture loans.
Database will be ready
According to SBI, a company is going to create a database of organic cotton growers. He said that with the help of this database any buyer of the world will be able to easily find out whether the farmer is actually producing organic cotton or not. By using this technique, we will provide them credit facilities. Because they have no credit history. At the same time, he said that crop loans are not given to cotton growers, but now we will give them this facility.