State Bank Of India

With the purpose to curb the problem of rising bad loans in the tractor segment, State Bank of India (SBI), the nation’s biggest lender, is reportedly planning to launch the EMI facility on tractor loans for the farmers. This new facility will help the farmers to pay back loans with ease. Further, the bank is encouraging the lady of the farm household to become a co-borrower. For that the bank has launched ‘Stree Shakti tractor loans’, whereby the lady of the house is also made a co-borrower.

The bank’s net profit for the quarter ended June 30, 2014 rose by 3.33% at Rs 3349.08 crore as compared to Rs 3241.08 crore for the quarter ended June 30, 2013. Its total income has increased by 12.56% to Rs 40739.21 crore for the quarter under review from Rs 36192.62 crore for the corresponding quarter of the previous year.