MUMBAI, Feb 15: Country’s largest lender, State Bank of India (SBI) has entered into a partnership with Mahindra group company, EPC Industries Ltd, to provide loans to farmers who wish to use EPC’s micro-irrigation systems.
Tie up is part of the USD 15.9 billion Mahindra Group. EPC Industrie Ltd. And is engaged in manufacturing and selling of micro-irrigation systems, crop management services and agriculture
pumps, according to official sources here today.
The tie-up will help farmers increase their acreage under irrigation by minimum use of available water resource. This will, in turn, increase their productivity and profitability. EPC will assist the Bank in identifying eligible farmers with a requirement
for micro irrigation systems, crop management services, agriculture
pumps.
It is expected that a large number of farmers will be financed through this tie-up in the coming months as use of water-saving methods like drip and sprinkler irrigation method, is being encouraged by various state governments, sources added. (UNI)
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