Bank of Maharashtra aims for 19% agri credit growth

Banks on e-Meets digitalized land records and post COVID schemes:

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Bank of Maharashtra has provided total agriculture advances (AA) of ₹143.85 billion during the year ended 31 March 2020. A spokesperson for the bank said the total amount of AA as of 30 June 2020 has increased by ₹4.96 billion and stood at 17.30% of ANBC. The AA has shown yoy negative growth of 4.86%, which is mainly due to the farm loan waiver scheme, he added. The percentage of Agri infra to total Agri has remained at 3%, but within that percentage of KCC/ STL/other CC and percentage of KCC came down QOQ by 1% each, and percentage of investment credit is unchanged at 36%, the spokesperson revealed.

MANGO, GRAPE GROWERS

The bank leads in financing growers of mango and grapes. The total outstanding credit for mango farmers in Maharashtra stood at ₹1.84 billion as of 31 March 2020 under 3773 loan accounts, which reduced slightly to ₹1.72 billion as of 30 June 2020.” Mango farmers of Ratnagiri district lead in outstanding credit, with 2407 loan accounts, amounting to ₹1.24 billion as of 30 June 2020, followed by Sindhudurg district (₹346.15 million) and Raigad (₹50.46 million).