Mumbai, Apr 2 (PTI) 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 and farmers 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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)