State Bank Of India

State Bank of India (SBI) has signed a memorandum of understanding (MoU) with VST Tillers Tractors to offer loans to farmers to purchase products such as tractors, tillers, power seeders and reapers.

The tie-up is part of the Bank’s strategy under which the lender is developing risk mitigated, value chain financing solutions that can cater to all stakeholders, starting from farmers to distribution channel partners.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The Bank has reported 34.56% fall in its net profit at Rs 2,538.32 crore for second quarter ended September 30, 2016 as compared to Rs 3879.07 crore for the same quarter in the previous year.