Bank of India helps out on Suguna's recommendation
India's integrated broiler-farming heavyweight, Suguna
Poultry, may help its contract farmers to receive financial assistance from the
State Bank of India, according to a memorandum of agreement signed
The agri-business unit of SBI
has agreed to assist contract farmers engaged in
poultry-related activities to double their production, by extending loans -
without any security - to any farmers recommended to the bank by Suguna
According to the signatories, the memorandum of agreement would also enable
the farmers to obtain easy loans for creation of assets, guaranteed supply of
chickens and quality feed, regular veterinary guidance and supervision and
protective shield from marketing problems. The farmers' annual income would also
increase by 100 per cent by 2010.
KJ Taori, General Manager (agri-business), said that encouraging contract
farming would not only provide employment to youths but also open the door for
the uneducated unemployed to start poultry business.
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