Date:30/10/2004 URL: http://www.thehindubusinessline.com/2004/10/30/stories/2004103002271900.htm

Back UBI funding for herbal plants

Our Bureau

HYDERABAD: Union Bank of India has signed an MoU for financing medicinal and herbal plants with Keva Biotech Pvt. Ltd.

As per the MoU, UBI will finance farmers/agriculturists, who will be purchasing planting material and other inputs from Keva Biotech. The company in turn will have buy-back arrangements of the harvested crop.

The sale proceeds would then be deposited with the lending branch concerned towards repayment of the finance.