State Bank of India will reschedule repayment of about Rs 100 crore of short-term agriculture loan, in view of drought in West Bengal. The bank's total agriculture loan outstanding in the 11 drought-hit districts in the state is close to Rs 500 crore currently. Of this, about Rs 250 crore will be short-term loan, of which Rs 100 crore will fall for repayment in the current season, according to a senior SBI official.
This year, the bank's total Kharif season agri-loan disbursement would be close Rs 110 crore, said Suriender Kumar, chief general manager, SBI, Kolkata circle, on the sidelines of a press meet here today on the bank's green initiatives.
The bank would increase the repayment tenure of the loans by an year, he added. SBI's share in agriculture loans in West Bengal is close to 34 per cent, 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, the SBI official said. The Bengal circle of the bank is eying a business of Rs 90,000 crore during the current financial year.
In the first quarter, business (retail) grew by Rs 3,500 crore touching Rs 72,000 crore, registering a growth of about 12 per cent on annualised basis.
Total deposits and advances were expected to grow by 20 per cent and 30 per cent respectively, he added.
The profit of the circle increased by 100 per cent during the quarter, he said.