Mumbai: State-run Bank of India (BoI) aims to increase its farm loan portfolio by at least 25 per cent in the current financial year, with fresh loan disbursals worth Rs 9,000 crore, a top bank official said.
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"We are targeting fresh farm loan disbursals worth Rs 9,000 crore in the current financial year. This would take the total agriculture loan outstanding to Rs 20,300 crore in 2009-10," Bank of India Executive Director, M Narendra said here.
The lender, which had total farm loan outstanding of Rs 16,284 crore in the last financial year, will primarily focus on priority lending for irrigation, farm mechanisation and soil conservation segments in FY'10, Narendra said.
The bank issued fresh agriculture loans worth Rs 7,400 crore in the last financial year, registering a growth rate of 25 per cent. Agriculture loans contribute 18.4 per cent of the adjusted net bank credit of the lender. At present, BoI has around 12.5 l akh customers in the segment.
