If you live in rural area and you have Kisan Credit Card then this news is for you. The government is constantly trying to increase your income. Finance Minister Nirmala Sitharaman asked the public sector banks to give easy loans to the Kisan Credit Card (KCC) holders to increase the income of the people in the villages.
Kisan Credit Card Scheme Reviewed
In an hour-long meeting with the Chief Executive Officers (CEOs) of public sector banks, he also asked the Regional Rural Banks to help them in upgrading the technology. After the meeting, Fisheries, Animal Husbandry and Dairying Minister Purushottam Rupala said that the Finance Minister has reviewed the Kisan Credit Card Scheme (KCC Yojana) and discussed how institutional credit can be made available to this sector.
Important role of Gramin Bank in agricultural credit
Minister of State for Finance Bhagwat K Karad said, “The meeting was chaired by the Finance Minister and discussions were held to issue Kisan Credit Cards (KCC) to all those engaged in fishing and dairying sectors.” “In another session on Regional Rural Banks, it was decided that the sponsor banks should help them in digitization and technology improvement,” he said. Regional Rural Banks have an important role in agricultural credit. Its sponsor banks are public sector banks (PSBs) and state governments.
Sources said that there are a total of 43 RRBs in the country. One-third of these RRBs, especially in the Northeast and Eastern regions, are loss-making and need funds to meet the regulatory capital requirement of 9 per cent. These banks have been formed under the RRB Act, 1976 and their objective is to provide loans and other facilities to small farmers, agricultural workers and artisans of rural areas.