SBI slips on tractor loan settlement plan

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State Bank of India’s one-time settlement (OTS) scheme for tractor loans has failed to get adequate response.

Only Rs 24 crore worth cases have come under it. In a portfolio of around Rs 4,000 crore of tractor loans, about Rs 800 crore worth loans were eligible for the scheme. The bank is assessing reasons for the lukewarm response, and might look at extending the March 31 deadline.

Crop failure and inability to deploy tractors were some of the reasons for the loans turning bad, SBI executives said.  
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