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Nirmala Sitharaman on KCC: Farmers having KCC will get big benefit from banks, announced by Finance Minister

Nirmala Sitharaman on KCC: Finance Minister Nirmala Sitharaman has appealed to the banks for the farmers having Kisan Credit Card. He said that the KCC holder farmers should be provided easy loan from the banks.

Nirmala Sitharaman on KCC: 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.

Reviewed Kisan Credit Card Scheme
In a meeting with the Chief Executive Officers (CEOs) of public sector banks, he also asked to help the Regional Rural Banks 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.

Gramin Bank’s key role in agricultural credit:
Minister of State for Finance Bhagwat K Karad said, ‘The meeting was chaired by the Finance Minister and it was discussed to issue Kisan Credit Card (KCC) to all those engaged in fishing and dairy sector.’ “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.

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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.

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