Indian Bank launches 3 emergency credit facilities for agriculture sector

State-run Indian Bank on Thursday said it has launched three emergency credit facilities for the agriculture sector which has been affected by the nationwide lockdown on account of Covid-19.

The lender is providing funding to agri-processing units, which can avail loans up to 10 per cent of their working capital limit, a bank statement said.

Borrowers in the poultry segment can avail loans to a maximum of 20 per cent of their working capital limit andfarmers cultivating crops / rearing animals and having KCC facility can avail 10 per cent of the limit as soft loan.

These loans will be given for a period of six months.

Last week, the Chennai-based lender had announced an additional funding facility for its large, MSME, retail pensioners and self-help groups (SHGs) customers.