Date:19/06/2004 URL: http://www.thehindubusinessline.com/2004/06/19/stories/2004061901771900.htm

Back Andhra Bank's promise to farmers

Our Bureau

VISAKHAPATNAM: Andhra Bank will do its best to lend a helping hand to the distressed farmers in Andhra Pradesh, as sought by the Chief Minister, and explore the possibilities of funding irrigation projects in association with other banks, according to the Chairman, Mr T. Narayanasami.

He was addressing the press here on Friday after launching Arogyadaan, a mediclaim scheme introduced by the bank in association with the United India Insurance Company. He said the Chief Minister, Dr Rajasekhara Reddy, had in his recent meeting with bankers asked them to help the farmers in all possible ways.

"We will give crop loans liberally. As for irrigation projects, it is too much for any bank to finance such projects in view of the huge financial outlay, but a consortium of banks can do it. It can be explored,'' he said.

He said the Arogyadaan was a very useful, unique product introduced by the bank a week ago and he expressed the confidence it would gain acceptance. "Only Rs 800 or so would have to be paid for a family of four to get health cover of Rs 50,000 and there will be no medical examination," he said.