Advances are mainly in AP, West Bengal, Tamil Nadu, Maharashtra, Odisha, and Kerala
Indian Overseas Bank Executive Director A.D.M. Chavali on Saturday said the bank had an exposure of Rs. 460.12 crore to pisciculture. Addressing the ongoing Aqua and Aquaria Expo-2013 in the city, he said the exposure was for inland pisciculture, marine fisheries, and for hatching and rearing of ornamental fish.
The IOB’s pisciculture advances were concentrated mainly in the States of Andhra Pradesh, West Bengal, Tamil Nadu, Maharashtra, Odisha, and Kerala.
He said the bank’s exposure in Andhra Pradesh was to the tune of Rs. 303 crore, which accounted for 66 per cent of the total bank’s exposure to pisciculture.
The finance in Andhra Pradesh was mostly for inland pisciculture, for the varieties of major carps such as Catla, Rahu, Mrigal, and Pangasius.
“In order to boost up our advances under pisciculture, mainly in the coastal areas, the bank has launched a scheme IOB – Sagar Lakshmi in July 2011. Under the scheme, a loan of up to Rs. 10 lakh with a concessionary pricing and margin is granted to fisherwomen involved in post-harvest activities in pisciculture.”