Mangalore: IOB has reaching its regulatory targets of under Agriculture Advances year after year. As at the end of March 2012, the total agricultural lending was Rs 19932 crores out which the Direct Agriculture loans was more than Rs 16650 crores, said M Narendra, chairman of Indian Overseas Bank.

He was speaking at the press meet held at Press Club on July 21, Saturday. He said that the agriculture portfolio in all banks generally comprise standard products like crop loans, KCC, Dairy, Poultry and pure investment loans like tractors etc., But IOB has some special and unique products under Agriculture which are not available in other banks.

Revealing about various schemes by IOB, he said that the bank has introduced Urban Horticulture, which is meant for people from all walks of life, like service holders, professionals and even, institutions who want to raise kitchen garden or flower garden in open space of own residence, including terrace and rooftops. This scheme also helps in increasing greenery in cities.

The other schemes are Sagara Lakshmi, Bhoomi Shakti, Bhoomi Laxmi, Investment Credit and Special Agriculture Credit Branches.

He also said that Rural initiative under CSR, M S Swaminathan Research Foundation is building 5 ‘Farm Schools’ with funding by IOB, Max Academy is educating rural children with financial support from IOB, Friends of Tribal Society is funded by IOB to spread education, lessons in hygiene and healthcare, basic awareness on civil matters among tribal students through their ‘Ekal Vidyalaya’ concept, IOB Sampoorna in 91 villages in various states are adopted for holistic village development. Financial and non-financial inputs are provided, like Rural libraries, solar lamps, scholarships to girl students, health care and sanitation facilities, de silting of village ponds etc.

Speaking on the financial inclusion, he said that IOB covered all 1296 villages allotted to it by SLBC’s of various states well ahead of the given deadline. In ddistion to these 1296 villages- IOB has also covered 115 villages which were not allotted to the Bank. Thus the total number of villages covered is 1411.

In the next phase, IOB is now busy in covering villages having population below 2000. Although number of such villages allotted to the Bank is only 500, IOB will exceed this number by a very wide margin before March 2013, he said. He also said that not only are the villages provided with banking facility through BC Model, but they are also supported by meeting individual credit need of all eligible persons residing the villages.

IOB has also introduced schemes like IOB gold schemes for Businessman, IOB Chartered accountant schemes, IOB Engineer Scheme, IOB micro one scheme, IOB SME loan and two special schemes like IOB Career Dream and IOB Scholar Scheme introduced recently by the bank, he said.

Senior Regional Manager K Anil was present at the press meet.