Staff Reporter

Kozhikode: Punjab National Bank (PNB) has disbursed Rs.30.73 crore in the State under the Special Agricultural Credit Plan for the half-year ending September.

This is 63 per cent of the annual budget and increase of 85 per cent over the previous year, S.P. Singh, Zonal Manager, Kerala Zone, said here on Friday.

The PNB had seven rural branches in the State and 3,347 cards were issued to farmers under the Kisan Credit Scheme. Credit limit ranging from Rs.50,000 to Rs.10 lakh would be fixed as per the eligibility norms to meet the short-term working capital of farmers. Vikas, Bhagyawan, Sarvottam and Gold are the four types of cards.

The bank was offering short-term credit to farmers up to Rs.3 lakh at interest rates of seven per cent per annum.

He said the PNB was advancing loans against jewellery at Rs.640 per gram, which was one of the highest rates in the State.

Mr. Singh said the outstanding retail credit showed an impressive growth of Rs.565.11 crore as on September 30.