Indian Overseas Bank is going to introduce the agri-jewel loan scheme to the urban areas. The scheme has received a very good response in the rural parts and this has prompted the bank to introduce the scheme in the urban areas also.
The bank is planning to open a separate desk for such loans in 25 branches across the country. The bank has also ensured that the interest rates will be considerably lower than those offered by the private banks.
The Chairman and Managing Director of the bank Mr. M Narendra said “Enthused by the agri-jewel loan in rural areas, we thought of capitalising [on] it in urban areas also. We are opening [a] separate desk for gold loans in 25 branches. With this, we will be able to provide very fast gold loan to urban customers also.”
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