SBI to reschedule agri loan repayment in West Bengal

KOLKATA: The State Bank of India(SBI) has decided to reschedule repayment of about Rs 100 crore of short-term agriculture loan, in view of drought in the state.

According to SBI, currently SBI's total outstanding agriculture loan in the 11 drought-hit districts in the state is close to Rs 500 crore currently. Out of which, almost Rs 250 crore will be short-term loan, of which Rs 100 crore will fall for repayment in the current season. This year, the bank's total Kharif season agri-loan disbursement would be close Rs 110 crore.

The bank would increase the repayment tenure of the loans by an year. SBI's share in agriculture loans in the state is nearly 34%, with the total exposure in the state close to Rs 2,400 crore. Most of the rescheduling of loans would take place in districts like Birbhum, Bankura, West Medinipore and Purulia.