Tractor Loan Settlement Scheme Launched

State Bank of India has announced a one-time farm loan settlement scheme worth 6,000 crore rupees primarily for tractors.

One Time Settlement is announced for Agriculture Loans and the Scheme is valid until 31st of this month.

The loans disbursed before 2011 and falling under doubtful or loss category accounts as of September 2016, will be considered under the scheme.

Other agri loans like kisan credit cards and other term-loans for tractors and farm loans may also be covered under the scheme.

SBI’s total farm loan portfolio is 1.25 Lakh Crore rupees and tractor loan book is about 6,000 crore rupees.