SBI plans to soon disburse agricultural loans digitally: Official

FILE PHOTO The State Bank of India (SBI) office building is pictured in Kolkata, India | Photo: Reuters
The country's largest lender SBI is running pilot projects to disburse agricultural loans digitally and expects to roll out the services very soon, a top official said Tuesday.

"We are doing some pilot projects. We have tied-up with some players for settlement of payments. Also the digital land records of farmers are available," SBI MD (Retail & Digital Banking) P K Gupta said on the sidelines of an event here.

When asked about the time-line for the launch of the services, he said as the pilot projects are on already, the bank hopes to provide such services soon.
Speaking at the Inclusive Finance India Summit 2018, Gupta said there are lot many fin-tech players presently and many states also have the land records of the farmers, so it will help in providing digital loans to farmers using technology.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel