Public sector lender, Indian Overseas Bank has come up with new credit schemes targetting mainly the small and marginal farmers and MSEs.

Bhoomi Laxmi, the scheme for small and marginal farmers is targetted to empower this class along with share croppers and tenant farmers.

Also, a scheme called IOB MSE PLUS has been introduced for aiding micro and small enterprises (MSEs). The scheme will offer facilities for both working capital and other long term requirements of these enterprises.

Along with these, IOB Sampoorna, a total village adoption scheme, has been introduced for overall development of the village apart from agriculture related activities like education, health, rural tourism and ecology in the villages.

Mr. M. Narendra, Chairman and Managing Director, IOB said, "As we are celebrating 75th year of our operations and our unflinching commitment to our customers, we are pleased to introduce new schemes which are aimed at the welfare and development of small and marginal farmers and small and medium enterprises, both of which play a very crucial role in the growth of our country and its economy,"

The bank is also taking forward its financial inclusion plans via business correspondent (BC) model and has covered 770 villages with a population of over 200 so far. The bank proposes to cover around 500 villages more by Dec 2011.