SBI to launch new loan scheme SAFAL for organic cotton growers

State Bank of India is planning to launch a loan product named “SAFAL” for organic cotton growers. The product Safe and Fast Agriculture Loan (SAFAL) is primarily focussed on organic cotton growers who don’t have any credit history. SBI will use Artificial Intelligence (AI) and Machine Learning (ML) for this purpose.

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Important takeaways for all competitive exams:

  • Chairman of SBI: Rajnish Kumar.
  • SBI Headquarters: Mumbai, Maharashtra.

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