Indian Overseas Bank to open 15 agriculture credit branches

Indian Overseas Bank is planning to open 15 agriculture credit branches in Karnataka and Maharashtra, during the second quarter of 2012-13. These branches will be located Belgaum, Bagalkot, Raichur, Hassan and Udupi districts in Karnataka, and Sholapur, Kolhapur and Ratnagiri in Maharashtra.

The bank is focusing sugarcane, paddy, tobacco and other cash crops for the establishment of agriculture credit branches. In these branches supervisory staff will be agricultural officers, who will meet farmers and also conduct agriculture awareness programmes. Apart from sanctioning agricultural loans, these branches will also process and appraise loan proposals of the nearby branches.